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ALEXANDRIA, Va.—Credit unions are facing a pivotal moment in their history and must take a hard look inward, warn former NCUA Board Members Todd Harper and Tanya Otsuka. They caution that certain CU trends—like investing in major sports sponsorships and drifting from their core mission of serving people of modest means—are putting the credit union tax exemption in serious jeopardy.

WASHINGTON—Credit unions cleared a key tax hurdle Monday, as the House Ways and Means Committee’s full draft of its reconciliation bill made no mention of altering credit unions’ tax-exempt status, according to sources in Washington, who also noted the win could be even bigger than anticipated.

WASHINGTON—President Trump Friday signed a Congressional Review Act resolution that overturns the CFPB's overdraft rule, officially eliminating a regulation that had raised concerns among many financial institutions about the future of their overdraft programs.