It was the year 1909 when Pierre Jay, the first banking commissioner of Massachusetts, was successful in getting the first credit union act passed in the commonwealth. Many other states followed suit, and then in 1934, the Federal Credit Union Act was enacted, establishing a federal charter and a choice...
Fifteen members of Technology Credit Union rallied Aug. 15 outside the credit union’s San Jose, Calif., headquarters to show their opposition to the credit union’s proposal to change to a mutual bank charter.
Trade organizations have submitted their regulatory wish lists to the NCUA as the agency prepares to undergo its annual rule review.
The banking industry’s longstanding effort to deter or prevent credit unions from using the words “bank” and “banking” in advertising was advanced to a new plateau last week with a proposed cease and desist order placed by the state’s top regulator on the $600 million Vermont State Employees Credit Union.
How words are banned, CUSOs are regulated and board members are and aren't appointed are some examples of a world gone mad.
I was galled at the childishness of bankers in Vermont putting the regulator up to blocking a credit union from using the term “banking” in its marketing materials, and the state regulator for his, at best, naiveté. Readers had the same reaction as you can see from the comments posted...
State regulator calls for cease and desist order.
Joining Metlife and Unum, Prudential is the latest insurer exiting the LTC business, which has become less profitable in low interest rate environment.
State banking commissioner cites 1969, 2006 laws in cease-and-desist order against Vermont State Employees Credit Union.
CEO Steven Post said he has asked Vermont regulator for more information about complainant and expects hearing on appeal in four to six weeks.