WASHINGTON–Banking industry regulators were grilled during a Senate hearing on why they continue to “rubber-stamp” bank mergers at the expense of consumers, while NCUA’s chairman was asked how the regulator ensures small and rural towns aren’t being left without physical branches when mergers occur.
WASHINGTON–Attention to overdraft fees continues to grow, including during a Senate hearing when one senator pressed regulators on the issue and had questions about the systemic risk posed by three banks that derive 100% of their net income from the fees.
WASHINGTON—Changes being proposed by the Federal Reserve to part II of its policy on payment system risk (PSR) are the subject of recommendations and concerns being raised in a letter from NAFCU.
WASHINGTON—Treasury, the Department of Housing and Urban Development (HUD), the Department of Agriculture, the VA, along with FHFA have released a joint statement addressing the CDC's eviction moratorium.
WASHINGTON–During an appearance before the Senate Banking Committee, NCUA Chairman Todd Harper offered an update on the performance of CUs, outlined the industry response to the pandemic, responded to questions related to climate change, and made four requests of Congress, including again asking for third-party oversight authority and again mentioning risks posed by CUSOs.
WASHINGTON–The July 2021 Senior Loan Officer Opinion Survey on Bank Lending Practices released by the Fed has found that when it comes to loans to businesses, on balance respondents reported easier standards and stronger demand for commercial and industrial (C&I) loans to firms of all sizes over the second quarter.
WASHINGTON—Both NAFCU and CUNA sent letters to the Senate Banking Committee ahead of a hearing to provide oversight of federal financial regulators – including NCUA – urging the committee to keep credit union concerns in mind.
MADISON, Wis.—Nearly $1.3-million has been donated by credit unions and other organizations to the Worldwide Foundation for Credit Unions in just three months, ensuring $1 million in matching funds will be provided as part of the CUNA Mutual Group Challenge.
COLUMBUS, Ohio–For the first time, a bill to legalize cannabis possession, production and sales has been filed in the Ohio legislature.
SEATTLE—Starbucks customers have accumulated a total unspent balance of $1.62 billion on the company’s prepaid physical and digital reward and gift cards, the coffee giant’s 2021 Q3 earnings call revealed.
