Fed Gov. Says CU Growth Should be Factor in Considering Bank Mergers As… 10/02/2022 10:36 am ST. LOUIS–A member of the Federal Reserve’s Board of Governors said the growth of credit unions and other non-bank financials should be factors that are considered moving forward when the Fed is considering bank mergers.
Here's Where Financial Services Finished in ‘Brand Intimacy’ Rankings; Plus, the Keywords That Sum Up Top Providers 10/02/2022 10:40 am NEW YORK– Financial services has been ranked 14th out of 19 industries studied in MBLM’s Brand Intimacy 2022 Study, which it said is the largest study of brands based on emotions.
7 States File Suit Over Biden Plan to Forgive Federal Student Loan Debt; Administration Changes Guidance 10/02/2022 10:39 am WASHINGTON–Attorneys general in seven Republican-led states have filed lawsuits over the Biden Administration plan to forgive some federal student loan debt.
Six Big Banks to Participate in Pilot Climate Scenario Analysis Exercise 10/02/2022 10:34 am WASHINGTON–Six of the nation's largest banks will participate in a pilot climate scenario analysis exercise designed to enhance the ability of supervisors and firms to measure and manage climate-related financial risks, according to the Federal Reserve, which will be conducting the exercise.
CUSO Formed by 4 CUs to Make Larger Loans Closes Its First Deal 10/02/2022 10:35 am MINNEAPOLIS–A new CUSO formed by four credit unions to make infrastructure loans and loans on larger projects has its first deal.
CFPB Roars Back at MoneyLion, Alleges Illegal, Excessive Fees on Servicemembers 10/02/2022 10:35 am WASHINGTON—The Consumer Financial Protection Bureau is suing MoneyLion Technologies, an online lender, and 38 of its subsidiaries, for imposing what it said are illegal and excessive charges on servicemembers and their dependents.
…NAFCU Says Fed Must Keep ‘Unique’ Role of CUs in Market in Mind 10/02/2022 10:36 am WASHINGTON—Following a speech in which Federal Reserve Board Governor Michelle Bowman addressed how credit unions are indicative of the changing community banking landscape that should factor in how the Fed treats bank mergers, NAFCU has sent a letter that states CUs play a “unique and competitive role in the marketplace,” but are also often more heavily regulated than community banks.
2nd FICU of the Year is Liquidated by NCUA 10/02/2022 10:39 am PADUCAH, Ky.–School is over for the $12-million Paducah Teachers FCU, which has been shuttered by NCUA. The $278.9-million C-Plant FCU, also based in Paducah, has purchased some assets and assumed most of PTFCU’s share accounts.
