Although NCUA’s final rule on corporate credit unions eliminates some onerous provisions from previous versions, it limits retail credit unions’ choices and increases the need for financial scrutiny. And with fewer corporates left, some credit unions are looking outside the credit union movement for services.
CUNA’s compliance staff went back to basics in a recent CompBlog post highlighting what credit unions should do when they receive a garnishment notice. The entry covers 5 steps credit unions should follow.
The House Financial Services Committee will conduct a hearing on Rep. Jeb Hensarling’s (R-Texas) Financial CHOICE Act next week. CUNA President/CEO Jim Nussle said CUNA appreciated the effort to bring regulatory relief to credit unions and other institutions.