LINCOLN, Neb.–Two state banking groups here have filed suit against the Nebraska Department of Banking and MembersOwn Credit Union over the credit union’s plans to expand its field of membership.
NEW YORK–There appears to be more to the conservatorship of the $3-billion Municipal Credit Union than just a CEO who embezzled funds to pay for private limos and lottery tickets.
WASHINGTON–A new research paper funded by the American Bankers Association claims credit unions are not just falling short of their mission to serve households of “small means,” but CU members are disproportionately from middle- and upper-income households and credit unions’ lack of “mission compliance” deepens U.S. economic inequality.
WASHINGTON–FDIC-insured commercial banks and savings institutions reported aggregate net income of $60.7 billion in first quarter of 2019, up $4.9 billion (8.7%) from a year earlier. The number of “problem” banks has also hit its lowest point since 2007.
WASHINGTON—Members of the Senate Banking Committee examined how to protect taxpayers while also overhauling the current housing finance system during a hearing to determine whether Fannie Mae and Freddie Mac (GSEs) should be designated as systemically important financial institutions.
WASHINGTON—New home sales decreased 7.8% from April's upwardly-revised 679,000 annualized units. NAFCU Research Assistant Dhruv Singh attributed the plunging figure to the rising impact of tariffs on material costs.
ALEXANDRIA, Va.— To mark the 85th anniversary of the Federal Credit Union Act, NCUA has launched a digital outreach initiative, “85 Years of Community, Service, and Savings.”
WASHINGTON—President Donald Trump has signed an executive order to establish a new council that is focused on eliminating barriers to affordable housing.
LOS ALAMITOS, Calif.–Southland Credit Union has expanded its field of membership to all of Los Angeles County.
TOPEKA, Kan. –The former president of 1st Kansas Credit Union here has been sentenced following an earlier guilty plea to embezzlement.