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.
LAS VEGAS — NCUA Board Member Gigi Hyland said Wednesday the agency needs more authority in dealing with CUSOs to help prevent credit union failures.
Crippled by mounting commercial loan losses, the $1.6 billion Texans Credit Union was placed in conservatorship on April 15 by the NCUA.
I took last week off to work around the house, and one of the many things I did was wander the aisles of the local Home Depot. I ended up in the landscaping area with the colorful, eye-catching plants.
Bankers argued to NCUA that now-conserved Texans CU was in violation of its member business lending cap.
Bankers may have a few holes in their anti-credit union business lending case if they’re looking at Texans Credit Union’s conservatorship.