WASHINGTON--For the first time at GAC, one person has gone from the audience at the meeting to the podium, as a former CU exec has been elected to Congress. Also at the meeting: Congressmen talk credit unions; one person calls for more sleep; CUNA's new MAP gets a formal introduction; the gavel passes, and two pioneers are recognized.
WASHINGTON—Dennis Flannigan is concerned that federally chartered CUs in Nevada are a dying breed, with only six left. And his federal credit union, Great Basin, may not remain in the federal fold much longer unless NCUA does not do something to amend its FOM rules. Flannigan and others joined NCUA's Rick Metsger for an early-morning discussion of FOM challenges during CUNA's GAC.
WASHINGTON—The highest honors in the U.S. credit union community—the Herb Wegner Awards—were presented last night in a stirring and moving ceremony. That and other news from CUNA’s GAC, including observations from its new CEO, thoughts on FOM from an NCUA board member, as well as thoughts from President George W. Bush’s press secretary on that job and what the 2016 election might hold.
WASHINGTON—Saying that 2015 will be the “year of regulatory relief,” NCUA Chairman Debbie Matz promised the risk-based capital rule will be the last significant safety and soundness rule change from the agency for the foreseeable future—adding that a separate interest rate risk rule (IRR) may not be coming.
WASHINGTON—Former four-star general Stanley McChrystal told credit unions that as they continue to grow and advance technologically, it’s critical not to lose an important skill that leads to any team’s success—strong communication.
TAMPA, Fla.—Samsung Pay’s entrance into mobile payments bodes well for issuers, say analysts, who believe the digital wallet will drive down or eliminate Apple Pay’s transaction fee issuers are now paying.
BIRMINGHAM, Ala.—Has Samsung leapfrogged Apple in the mobile payments space? Whether or not that is the case with Samsung’s introduction of Samsung Pay, experts say the competition only bodes well for issuers.
ALEXANDRIA, Va.—Just-released data shows that loan growth at federally insured credit unions in 2014 climbed to the highest level since 2005.
LAKEWOOD, Colo.—2015 may be the year “beacon” technology becomes widely used by retailers, with some credit unions and banks also turning to the same technology, according to two experts.
WASHINGTON—The significant changes to the second risk-based capital proposal over the first resulted from NCUA listening—and not listening—to credit unions, analysts say.