Sen. Richard Shelby (R-Ala.) won't commit to keeping the credit union tax exemption as part of a tax reform package.
Senate Banking Committee chairman will not go on record regarding his position on protecting the CU tax exemption.
It is not easy to form a new credit union but a group of Mainers believe they have the recipe to potentially charter the first new one in the state in a quarter century.
The cooperative would serve Maine's small farmers, who are increasing in numbers.
Internet-based or platform lenders are stepping up their efforts to capture consumer loans.
NCUA says onsite WesCorp and other corporate examiners were limited by regs, not influenced by executives.
According to a report commissioned by the New York Federal Reserve in 2009, the Fed's culture for lax supervision was to blame for the financial crisis in 2008.
Many examiners were reluctant to “press changes” on the supervised banks involved in Wall Street’s financial meltdown.
Every day, six days a week, a credit union closes and never re-opens. That has been going on for many years. More than 3% of credit unions have annually closed for the past decade. By 2025, the United States will have around 4,500 credit unions.
Do the math. Look to your right. Look to your left. One in three credit unions will vanish by 2025. Find out more in this week's preview from next week's print edition.