WASHINGTON--“We have seen the number of mergers rise in recent years as the regulatory burden on community institutions has skyrocketed. Quite simply, it is getting harder to survive as a community financial institution due to these burdens,” America’s Credit Unions President/CEO Jim Nussle wrote in a letter to the House Financial Services Subcommittee on Financial Institutions.
Fresh Today
WASHINGTON--The CFPB withdrew another set of regulatory actions, this time proposals that amended Regulation AA and Regulation V, as well as an interpretive rule with changes to the Electronic Fund Transfer Act (EFTA) and Regulation E, America's Credit Unions reported.
LIBERTY LAKE, Wash.—Ezra Eckhardt is no longer serving as president and CEO of the $6-billion Spokane Teachers CU, the credit union announced.
WASHINGTON—The House Ways and Means Committee wrapped up its markup on its reconciliation bill Wednesday morning, leaving the CU tax exemption intact.
ALBANY, N.Y.—New York Governor Kathy Hochul has formally established regulations for buy now, pay later lending in the state, adopting a more assertive approach as the CFPB takes a lighter regulatory stance under the new Administration.
WASHINGTON—Narrow supervisory standards, inconsistent approval timelines and other regulatory impediments are limiting new bank formation and leading to further consolidation in the financial sector, the American Bankers Association stated in comments to lawmakers.
TAMPA, Fla.—The $500-million Trax Credit Union has named Jessica Stevenson CEO.
TULSA, Okla.—After being sentenced to federal prison last year, Kansas City Chiefs superfan Xaviar Babudar—known for his costumed persona “ChiefsAholic”—received an additional prison sentence this week in Oklahoma, stemming from convictions related to a multi-state spree of bank and credit union robberies, the Kansas City Star reported.
WASHINGTON—Mortgage applications increased 1.1% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 9, 2025.
COPENHAGEN, Denmark—The Defense Credit Union Council, together with its member credit unions serving U.S. military communities overseas, recently gathered here for the 2025 DCUC Overseas Sub-Council Conference.