After a determination of “imminent insolvency” by its federal regulator, a Maryland credit union was closed late Friday, allowing another credit union in the state to assume the members and shares of the shuttered institution. […]
The nation’s largest credit union must pay a record $95 million for allegedly illegal, surprise overdraft fees and is barred from offering the fees in the future, the federal consumer financial protection agency said Thursday. […]
The federal bank deposit insurer announced dual actions Friday which allow the creation and federal deposit insurance coverage for a new industrial bank in Salt Lake City, Utah, and the merger into that new bank […]
A new federal credit union (FCU) was chartered in Kentucky, its federal regulator said Wednesday, to serve low- and moderate-income communities in the central part of the state. It is the third FCU chartered in […]
An interagency policy statement proposed last October on the interpretation and application of the accounting industry standard for the treatment of credit losses has been made final, along with interagency guidance on credit risk review […]
A credit union service organization must forgive loans worth $168 million under the terms of a settlement that spans 44 states reached with the federal consumer financial protection agency, the agency announced Friday. The Consumer […]
Programs and initiatives for minority depository institutions, the credit union chartering process and the grant round for low-income credit unions are among the topics to be discussed in an April 24 webinar by the federal […]
Grants totaling $2 million to 203 low-income credit unions to help them improve digital services and security, increase outreach to underserved communities and to train employees have been awarded, the federal regulator of credit unions […]
Grants of up to $7,500 for low-income credit unions that sustained damage from the recent Hurricane Florence and need to restore operations are available, the federal credit union regulator said Monday. In a release, the […]
A federal credit union chartered to serve Anabaptists and Mennonites is also permitted under the Federal Credit Union (FCU) Act to serve “individuals who share a core doctrinal belief and set of practices with those […]
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