WASHINGTON–The most recent acquisition of a bank by a credit union—six so far in 2022, as CUToday.info reported here–continues to also bring criticism from the banking industry, whose trade groups have been working to get Congress to focus on the issue. But at least one person doesn’t expect elected officials will respond.
Fresh Today
SANTA MONICA, Calif.–Consumers and credit union members who have car leases due to expire soon are being urged to carefully explore their options, as a 2019 leased car, for example, is now worth an average $7,200 more than expected.
WASHINGTON–In just two years there has been an “important culture shift” among credit unions when it comes to diversity, equity and inclusion (DEI), according to a new CUNA survey.
WASHINGTON—NAFCU is offering several recommendations to the Federal Housing Finance Agency (FHFA) in response to its draft strategic plan for fiscal years 2022-2026.
Regulatory Affairs Counsel Aminah Moore highlighted the importance the role of government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, as well as the FHLBs serving as a reliable source of liquidity and funding for housing finance and community investment, noting that credit unions rely on access to the secondary mortgage market for the liquidity needed to make more loans to their members.
MOSCOW—Sberbank said it’s looking at the possibility of issuing cards using Russian payments system Mir and China’s UnionPay after Visa Inc. and Mastercard suspended operations following the invasion of Ukraine.
WASHINGTON–An initiative aimed at tackling the issues facing rural America has been launched by the Consumer Financial Protection Bureau (CFPB), with a particular focus on rural banking deserts, discriminatory and predatory agricultural credit and manufactured housing.
MADISON, Wis.–The Filene Research Institute has announced a new edition, The Lab at Filene.
ALEXANDRIA, Va.–A new report from NCUA’s Office of Inspector General has identified three new challenges for the agency as part of the seven top management and performance challenges it faces.
SYRACUSE, N.Y.–John Wakefield, president/CEO of Empower Federal Credit Union, has announced his retirement. An interim CEO has been named.
DES MOINES, Iowa– The Iowa Division of Credit Unions has earned Reaccreditation by the National Association of State Credit Union Supervisors following a series of in-depth reviews and assessments by a panel of veteran state supervisors.