WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has issued a new fact sheet on section 314(b) of the USA PATRIOT Act it said is meant to enhance utility of the program and make clarifications on information sharing between financial institutions.
Fresh Today
COLUMBIA, Md.–The MD|DC Credit Union Association has launched a Signature DEI Speaker Series.
ARLINGTON, Va.—Net interest margins at credit unions have been “plummeting” as credit union share growth remains at an all-time high on a year-over-year basis and loan growth remains stable overall – heavily influenced by first mortgage real estate loans, NAFCU reported in a new analysis.
ALEXANDRIA, Va.–During a rare two-day NCUA board meeting later this week, credit unions and their trade groups will be carefully watching the nine different items currently on the agendas, with special interest being paid to whether the agency is acting on any of the input provided on its 2021/22 budgets.
WASHINGTON—NCUA has the opportunity to further reduce its “footprint,” according to comments filed by CUNA on the agency’s NCUA’s proposed 2021 budget. That budget will be voted on by the NCUA board later this week.
WASHINGTON–Both houses of Congress are in session this week, but what comes out by week’s end remains very much up in the air.
KINGSPORT, Tenn.– Eastman Credit Union has announced the payout of a $15 million extraordinary dividend to members, bringing the total member payout to more than $147 million since it began in 1998.
WASHINGTON—NAFCU and CUNA are warning a proposed regulation from the CFPB could lead to increased compliance costs for credit unions.
ST. PETERSBURG, Fla.–PSCU has announced what it said is a record-setting patronage dividend of $37.4 million, with 30% being distributed in cash. Separately, it also released its latest analysis of card spend by CU members, showing a strong rebound.
RANCHO CUCAMONGA, Calif.–CO-OP Financial Services is reporting what it described as “substantial achievements” against goals in the areas of product and technology delivery, expanded digital capabilities and greater credit union member experience and satisfaction.