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ALEXANDRIA, Va.–A senior NCUA official has clarified some additional details around the unique situation involving Navy Federal Credit Union’s operation of the Community Bank on military bases overseas, including the question of who actually regulates Community Bank. The answer in part: It’s not NCUA or the FDIC, because technically, it’s not actually a bank. And that’s just one aspect of the operation that’s unlike any other.

WASHINGTON—America’s Credit Unions has sent two letters to Capitol Hill outlining its positions on privacy legislation and the relationship between CUs and the FHFA, respectively.

WASHINGTON—The dollar amount of credit union loans outstanding decreased -0.06% in February, compared to a -0.06% decrease in January and a 0.38% increase in February of 2023, according to America’s Credit Unions’ latest Monthly Credit Union Estimates.

WASHINGTON–While newly released data on overall employment shows jobs continue to be added, the National Federation of Independent Business said its monthly jobs report indicates a general slowdown in employment activity for small businesses in March, with a seasonally adjusted net 11% planning to create new jobs in the next three months, down one point from February and the lowest level since May 2020.

OLYMPIA, Wash.–Seven branches of Washington State Employees CU as well as its headquarters were closed following death threats made to a member service rep.

WASHINGTON–Mortgage rates topped 7% last week for the first time this year as new data show home sales in March posted their biggest monthly drop in more than a year.