CUNA is encouraging credit unions to submit their comments on the CFPB proposal to raise the safe harbor thresholds for its remittance rule by the Jan. 21 deadline. Stakeholders can use CUNA’s Grassroots Action Center to submit comments.
The NCUA board will consider proposals on subordinated debt and credit union combination transactions, among other items, at its Jan. 23 meeting. This is the board’s first meeting of 2020, and it will be livestreamed on NCUA.gov starting at 10 a.m. (ET).
Credit union purchases of banks offer substantial benefits to all parties involved, CUNA and the MWCUA wrote this week to the Colorado Banking Board in support of Elevations CU plan to purchase and assume Cache Bank & Trust.
The National Credit Union Share Insurance Fund reported total income of $57.3 million and a net income of $24 million in the first quarter at Thursday’s National Credit Union Administration board meeting.
The National Credit Union Administration board became the first federal financial regulator to issue a revised proposed rule on incentive-based compensation at its Thursday meeting. The board voted unanimously to issue the joint rule, with comments due July 22.
The Federal Trade Commission will host a forum June 9 to explore the world of marketplace lending and its impact on consumers. CUNA filed a comment letter last year with the Treasury regarding such lenders.
UBS will pay the National Credit Union Administration $69.8 million in damages and interest for claims arising from losses to two corporate credit unions that failed during the financial crisis, the agency announced Friday.
Credit Suisse will pay the National Credit Union Administration $50.3 million in damages and interest for claims arising from losses to Members United and Southwest corporate credit unions, the agency announced Thursday.