WAYNESVILLE, N.C.—The $370-million Mountain Credit Union has promoted Suzie Shook to chief executive officer following the retirement of Amy Woody, who had led the credit union since September 2020.
Fresh Today
WASHINGTON—The Cybersecurity and Infrastructure Security Agency and its G7 partners have released new joint guidance designed to improve transparency and security across artificial intelligence systems and supply chains, as governments and businesses face growing pressure to better understand the risks embedded inside rapidly expanding AI technologies.
NEW YORK--For credit unions and banks, instant payments are quickly moving from a nice-to-have feature to a competitive necessity, as younger consumers—especially Gen Z—show little patience for legacy settlement windows and increasingly reward institutions that can move money in real time.
LAWRENCEVILLE, Ga.—Black Book reported its Used Vehicle Retention Index declined in April, signaling softening wholesale values as the spring market lost some momentum late in the month.
WASHINGTON—NCUA has quietly advanced an interim final rule clarifying federal credit unions’ authority over “non-interest charges and fees,” a move some expect to become the agency’s response to Illinois’ controversial Interchange Fee Prohibition Act and one that closely mirrors recent preemption actions taken by the OCC on behalf of national banks.
WASHINGTON—The Federal Financial Institutions Examination Council is seeking public comment on a proposed overhaul of the CAMELS supervisory ratings framework, marking what regulators said would be the first comprehensive revision of the bank and credit union examination system in approximately 30 years.
FARMINGTON, Mich.—LOC Credit Union and Advantage One Credit Union here have announced plans to merge in a deal that would create a combined $750-million institution, pending approval by Advantage One members later this summer.
ALEXANDRIA, Va.—A sweeping new NCUA proposal to implement the GENIUS Act could open the door for credit union-backed stablecoin issuance, but only through separately licensed subsidiaries operating under an extensive new federal regulatory framework that limits risks to the Share Insurance Fund.
DENVER—The announcement by PNC Financial Services that it will eliminate nearly 1,000 jobs tied to its acquisition of FirstBank is drawing renewed criticism from Colorado credit unions, which said the cuts underscore the risks communities face when local financial institutions are absorbed by large out-of-state banks.
WASHINGTON--Aligning the Federal Housing Administration’s home loan program with government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac’s conventional financing standards would improve the program’s effectiveness and appeal. America’s Credit Unions joined other organizations to send specific recommendations to Department of Housing and Urban Development Secretary Scott Turner last week.