Michael Gudely said he is aware that his position on a new proposal that that would essentially change how credit union service organizations are monitored may go against the grain
When the NCUA issues its proposed regulation of credit union service organizations on July 21, it will be an attempt by the agency to keep a closer eye on organizations whose role has grown and therefore expose credit unions to greater risk.
A little over a year after Texans Credit Union settled a contentious wrongful termination case with the former president of its insurance CUSO, the cooperative has been hit with yet another suit with strikingly similar details.
More legal fall out from Texans takeover.
Might this time finally be the charm for member business lending? After years of lobbying and cajoling, credit unions will finally get their wish on June 16 when the Senate Banking Committee holds a hearing on Sen. Mark Udall’s (D-Colo.) legislation to raise the cap on member business loans.
Last week credit unions and banks failed to muster the votes to even delay the interchange fee cap regulation by a year. One could argue it was a failure of the American political structure that grants some groups or individuals inordinate amounts of power.
There’s too much going on these days to focus on one thing. Sure there are lots of options to write about but it can also be distracting. So here’s a spin around the credit union industry in 800 words or less to highlight a few big issues.
David Addison, the former president/CEO of the troubled Texans Credit Union, has resurfaced.
LinkedIn profile lists Addison as CEO, sole employee of Aberdeen Capital Holdings Inc.
Regulators are often the center of attention, but lately the NCUA has taken the spotlight. Unfortunately for the agency, it’s been low-hanging fruit.