EDWARDSVILLE, Ill.—The operations of MADCO Credit Union here have been suspended by the state regulator surrounding concerns over financial stability.
THE news
TAMPA, Fla.–In an unusual move, Grow Financial FCU here has filed suit against GTE Financial Credit Union alleging that a former Grow Financial employee copied confidential information and provided it to GTE.
MADISON, Wis.–Credit union memberships grew at a record pace in the first quarter of 2017, adding 1.5 million new memberships, while lending continues to remain robust and liquidity looks to grow tighter, according to the latest Credit Union Trends Report from CUNA Mutual.
ALEXANDRIA, Va. –During its meeting today, the NCUA board issued a proposed rule it said will provide consistency with other federal financial institutions regulators in the supervisory appeals process.
WASHINGTON–President Trump’s proposed 2018 budget proposes a “restructuring” of the Consumer Financial Protection Bureau and eliminates the Community Development Financial Institution Fund, but also assumes the credit union tax exemption will remain in place for at least the next 10 years.
GREAT BARRINGTON, Mass.—A new report on debt and credit shows that in the first quarter of 2017, household debt surpassed the previous peak of $12.7 trillion, seen during the Great Recession. The new numbers come at the same time some analysts see red flags in rising delinquencies.
WINSTON-SALEM, N.C.–Allegacy FCU here and the YMCA of Northwest North Carolina are partnering on a study focused on whether incentives have an effect on the wellbeing of diverse communities.
NEW YORK—One analyst who has been following the taxi medallion loan problem closely is reporting that three New York CUs continue to have issues in their portfolios, largely due to participations in taxi medallion loans.
CHICAGO—Looking for another sign that credit standards have become too loose and that many consumers now face unmanageable debt levels?
SACRAMENTO, Calif.–In an attempt to test workers’ vulnerabilities to email phishing scams, a California state department sent an email to employees that included a manipulated version of the logo of The Golden 1 Credit Union.