CUNA joined several financial trade organizations Thursday to call on House leadership to pass the SAFE Banking Ac, a bill to provide legal protections to financial institutions serving legal cannabis-based businesses.
The House passed a continuing resolution Thursday to fund the federal government through Nov. 21 by a 301-123 vote. Funding would have lapsed Oct. 1 without the resolution or a long-term spending bill.
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.