2+ day, 8+ hour ago   (139+ words) CU Today WASHINGTON—Federal banking regulators have issued an interim final rule doubling the asset threshold for certain community banks to qualify for an 18-month examination cycle, increasing it from $3 billion to $6 billion.The change implements provisions of the…...

3+ day, 8+ hour ago   (182+ words) SOUTHLAKE, Texas — Lender Compliance Technologies (LCT) today announced the launch of a new credit union service organization (CUSO) – LCT CUSO – dedicated to making advanced automated-compliance solutions seamless and accessible to credit unions across the U.S. LCT CUSO is a…...

3+ day, 17+ hour ago   (296+ words) WASHINGTON--The credit card interchange system should be protected, especially from policies like the Credit Card Competition Act, was the focus for America’s Credit Unions President/CEO Scott Simpson at a Washington event on the state of the economy Tuesday,…...

1+ week, 1+ day ago   (268+ words) Judge Rejects SVB Parent’s $1.71B Claim Against FDIC CU Today SAN JOSE, Calif.—A federal judge has rejected a $1.71-billion claim against the FDIC by the successor to Silicon Valley Bank’s former parent, finding that negligent decisions…...

1+ week, 1+ day ago   (217+ words) CU Today WASHINGTON—The Government Accountability Office is urging Congress to reconsider who reviews investor disclosures from publicly traded banks without holding companies, finding those institutions are not subject to the same investor-focused SEC scrutiny as most public companies…...

1+ week, 5+ day ago   (164+ words) CU Today ALEXANDRIA, Va.--NCUA issued three consent-based prohibitions in August, the agency announced The individuals are permanently prohibited from participating in the affairs of any federally insured depository institution:Orders of Prohibition: Teresa Palmer, former employee of Centra Credit…...

2+ week, 4+ day ago   (263+ words) CUToday ALBUQUERQUE, N.M.—Wells Fargo and government-services contractor Conduent have reached settlements with two New Mexico residents who accused the companies of improperly refusing to reimburse thousands of dollars stolen from state-issued prepaid debit cards, bringing an end to…...

2+ week, 5+ day ago   (231+ words) CUToday WASHINGTON— Federal banking, credit union and housing regulators are rescinding 2022 guidance that encouraged lenders to use special-purpose credit programs, or SPCPs, to expand access to credit, saying the guidance no longer conforms with the government’s interpretation…...

2+ week, 5+ day ago   (249+ words) ALEXANDRIA, Va.--John Crews has been officially sworn in as chairman of the National Credit Union Administration board, NCUA reported Monday, ending an extraordinary period in which the federal regulator operated without a single sitting board member. As CUToday.info…...

2+ week, 5+ day ago   (406+ words) CUToday WASHINGTON—The banking industry is pressing federal regulators to go further in overhauling the confidential CAMELS supervisory rating system, calling for clearer limits on when examiners can downgrade institutions and, in one proposal, eliminating the separate Management rating…...