ARLINGTON, Va.—A majority of credit unions said their decision-making and documentation processes for small business lending transactions are "marginally manual," while only 9% have adopted highly automated systems, a new report indicates.
Fresh Today
PURCHASE, N.Y.–Mastercard has announced a multi-year partnership with Riot Games to become the first global sponsor for League of Legends, the largest esport in the world.
WASHINGTON–Senator Elizabeth Warren (D-WA) has introduced legislation that would require credit unions to be examined for compliance under the Community Reinvestment Act (CRA), drawing immediate pushback from the credit union trade groups.
WASHINGTON–Both the House and Senate are back in session this week, with the House likely adjourning at week’s end until the mid-term elections.
ATLANTA–Financial institutions, including credit unions, are urging a federal court here to deny a bid by Equifax to have their claims tossed in a multidistrict lawsuit related to the company’s enormous 2017 data breach.
ALEXANDRIA, Va.—Low-income credit unions sustaining damage from Hurricane Florence are eligible for urgent needs grants up to $7,500 from NCUA to help restore operations, the agency reported Monday.
WASHINGTON—The White House announced a new cybersecurity strategy it describes as taking “bold new steps” to protect Americans and strengthen cyberspace capabilities.
ALEXANDRIA, Va.—The NCUA board is being encouraged to move forward with a variable interest rate ceiling by proponents who argue the move would create growth opportunities for credit unions.
MADISON, Wis.–The World Council of Credit Unions (WOCCU) has filed a comment letter with the Financial Stability Board noting that while it does not support a regulatory requirement for credit unions to obtain “Legal Entity Identifiers,” it does see some potential value in FASB’s encouragement of the increased use of the identification system.
MADISON, Wis.—CUES has announced its 2018 Outstanding Chief Executive Award winner and CUES Hall of Fame inductees, and further announced the judges of its 2018 CUES Next Top Credit Union Exec competition.