WASHINGTON–As many had expected, the Federal Open Market Committee has cut rates by 25 basis points to a target rate for the federal funds rate of 2% to 2.25%.
Fresh Today
WASHINGTON–Alleging credit unions are showing “troubling parallels” to the 1980s savings & loan crisis, state bankers associations in 50 states plus Puerto Rico have sent a joint letter to the Ways & Means committees of both the House and Senate demanding renewed oversight over credit unions, including hearings on whether the “tax- exempt credit union industry lives up to the ideals of its founding.”
PARADISE ISLAND, Bahamas—Citing the “great work” credit unions do around the world, Stephen Stapp encouraged attendees at WOCCU’s World CU Conference to accelerate their efforts and reach more people.
PARADISE ISLAND, Bahamas—A tiny $7-million CU on the brink of conservatorship in 2010 has grown to $37 million in assets today with 2.67% annual ROA and 27% annual loan growth.
PARADISE ISLAND, Bahamas–Three very different perspectives and scenarios related to the regulation were shared here by people from three different parts of the world. The remarks and insights were shared during WOCCU’s World Credit Union Conference here during a session titled “Next Generation Regulation.”
PARADISE ISLAND, Bahamas–The Worldwide Foundation for Credit Unions has now surpassed its $100,000 goal for its Project Storm Break disaster relief fund following an event here.
PARADISE ISLAND, Bahamas–Where is credit union membership growing fastest? During the World Council’s World CU Conference here, the World Council recognized credit union associations from North, South and Central America with awards for posting the greatest membership growth.
SALT LAKE CITY– Japanese e-commerce giant Rakuten has filed an application for an industrial loan company charter in Utah. The company operates numerous businesses, including the U.S. rewards brand Ebates.
ALEXANDRIA, Va.–NCUA has opened registration for an Aug. 14 webinar that will review how it examines for liquidity and interest-rate risks.
WASHINGTON—NAFCU has told NCUA it supports an agency proposal to allow federal credit unions (FCUs) to receive public unit and nonmember shares up to 50% of paid-in and unimpaired capital and surplus less any public unit and nonmember shares.