GARDEN CITY, Ga.–In part II of this latest three-part review by CUToday.info of what members are being told about the newest CU mergers that have been proposed, in addition to the typical reasons being cited—such as “improved products and services”—this report finds CUs citing capital constraints, another with 32% net worth saying it can’t compete, a CU paying flat share distributions regardless of account balances, members confused over what the name of the merged CU will be, and much more.
WASHINGTON–New data showing a slowdown in consumer prices makes it increasingly likely the Fed not only won’t raise rates in December, but may even begin reducing rates in 2024, according to credit union economists and other analysts.
WASHINGTON–The chairman of the FDIC said he is “personally disturbed and deeply troubled” by a new report of a misogynistic and toxic culture at the agency, with male workers acting abusively against women, including supervisors inviting female employees to strip clubs, another supervisor requesting sex with an employee, and employees being urged to drink whiskey while working.
WASHINGTON–A new report around a toxic, “sexualized boys’ club” culture at the FDIC was the subject of testy exchanges and statements about lewd behavior not typically heard in the Senate, leading one senator to ask, “What the hell is going on at the FDIC?”
WASHINGTON–During testimony before the Senate, NCUA Chairman Todd Harper said the overall health of credit unions is good, but he flagged some threats to that health while also offering an update on other initiatives and closing with a request for several amendments to the Federal Credit Union Act.
WASHINGTON—Ahead of the separate hearings by the House and Senate this week on oversight of financial institutions, NAFCU and CUNA wrote to the Senate Banking Committee stating it is “critical that the committee understand the immense pressure credit unions–big and small–are under in terms of compliance and operational challenges.”
WESTBROOK, Maine–With the holiday season approaching, the Maine Credit Unions’ Campaign for Ending Hunger is bringing back its Holiday Meals for Mainers initiative.
RICHLAND, Wash.— More than 50 credit union women from 15 states and Canada gathered here for the Global Women’s Leadership Network’s seventh annual Executive Readiness Summit.
NEW YORK–Inclusiv has released its Community Development Credit Unions: Financial Inclusion in Action report, which highlights the “extraordinary impact” of community development credit unions (CDCUs) in the low-income communities and communities of color they serve.
WASHINGTON—The Federal Reserve Board and the Consumer Financial Protection Bureau announced the dollar thresholds used to determine whether certain consumer credit and lease transactions in 2024 are subject to certain Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) requirements.
