Standards are not mandates, agencies say.
NCUA, other regulators considering new standards as mandated by Dodd-Frank.
Two long-term opponents of payday lending said that nine federal credit unions in five states continue to offer members payday loans with triple-digit interest rates.
Thirteen institutions expected to also undertake loss mitigation efforts focused on foreclosure prevention in OCC/Fed settlement.
Banker opposition to NCUA’s LICU program is ludicrous. Why do I call it ludicrous? Because their opposition would have to step up several notches on the reasonableness scale to even come close to their normal anti-credit union position of hypocritical.
The 20,000 member, $353 million GFA Federal Credit Union, headquartered in Worcester Mass., moved a bit closer to finalizing a purchase of a stock-owned thrift when a majority of the bank’s shareholders voted to approve the deal.
I recently received an email from a group of Washington lawyers who ply various trades of a legal nature, including trying to convince credit unions that switching to a mutual charter (with the not-so-subtle understanding of a later move to stock) would be a great idea.
Although they less frequent than credit union to bank charter changes, some banks have made the move to become credit unions.
Regulators issue joint statement downplaying effect; CU Prosper CEO agrees.
Saying that that more information is needed on the unintended consequences of capping interchange fees, Rep. Shelley Moore Capito last night introduced legislation that would delay the implementation of the Fed’s interchange rule by one year.