WASHINGTON–Credit unions’ attention to members of Congress will primarily be in their home districts and states in the coming month. The House is already in recess, and the Senate, which is currently scheduled to remain in session through next week, has indicated it may skip town early for the traditional August break.
Fresh Today
ARLINGTON, Va.–NAFCU said it is seeking its members input on NCUA's proposals for closing down the Temporary Corporate Credit Union Stabilization Fund and on distributions by the National Credit Union Share Insurance Fund.
ARLINGTON, Va.–In a letter to the CFPB, NAFCU said it is "troubled by the growing cost of mortgage lending" due to the CFPB's ability-to-repay/qualified mortgage rule and the negative effect the rule has had on credit unions' origination volumes, profitability and member satisfaction.
HERMANTOWN, Minn.–The $140-million Hermantown Credit Union has a new name. It is now Centricity Credit Union.
ALBUQUERQUE, N.M. — Merger talks have been called off by two large credit unions in New Mexico.
GRAND RAPIDS, Minn.–Two Minnesota credit unions have announced they will merge effective today.
SACRAMENTO, Calif.–The Golden 1 Credit Union will be giving $1 million over the next three years to help young people avoid homelessness in Sacramento with a 24-hour youth counseling center.
LONDON—British retailers will be forbidden from forcing customers to pay surcharges when they use a credit card, under new rules announced by the U.K.'s Treasury Ministry.
WASHINGTON—NAFCU promised to be vigilant in defense of the credit union tax exemption as Treasury Secretary Steven Mnuchin, White House advisors, House and Senate majority leaders and the chairmen of the House Ways and Means and Senate Finance Committees released a joint statement reiterating Republicans' goal to advance tax reform this fall, which CUToday.info reported here.
SAN FRANCISCO–Wells Fargo’s woes are not over, as a new program that charged customers for unneeded services has been revealed.