WASHINGTON—The CFPB’s mortgage servicing rules proposal would eliminate existing processes and system mortgage processors have used for years, inviting regulatory uncertainty and protections for bad actors, according to America’s Credit Unions.
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WASHINGTON–The Senate Committee on Finance has scheduled a hearing this week titled “The 2025 Tax Policy Debate and Tax Avoidance Strategies” that will include among its witnesses an organization that has been strongly critical of the credit union tax exemption.
HOUSTON— Two Texas credit unions are merging. The $37.1-million SPCO Credit Union said it is merging into the $1.3-billion First Service Credit Union.
TYSONS, Va.– PenFed Credit Union is reporting it has closed on its second prime auto loan securitization in a $447.4 million transaction that involved fixed-rate, amortizing asset-backed notes backed by prime auto loans.
NEW YORK—Seventy five percent of Americans say they are not completely financially secure, and 30% never expect to be, a new study has found.
BATON ROUGE, La.–La Capitol FCU has become the official credit union partner of Southeastern Louisiana University Athletics.
TAMPA–GTE Financial Credit Union said it has launched a new “Student Perks” program for members 16 and up.
MADISON, Wis.–Plaintiffs who had been challenging fees tied to the Credit Union Retirement Plan Association 401(k) Plan have reached a $570,000 class settlement even though they had been unable to secure a court order certifying the lawsuit as a class action.
WASHINGTON—The definition of “money” is being revised by a number of federal agencies as part of a broader effort to tighten reporting requirements for financial institutions handling local and cross-border cryptocurrency transactions, according to a new report.
SEATTLE–One financial analyst is suggesting some banks are holding out on selling as they await a credit union to pay a premium to acquire them.