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Here’s What You Missed at the CUNA Governmental Affairs Conference

On March 10-14, the Credit Union National Association (CUNA) hosted its annual Governmental Affairs Conference in Washington, DC. Sorry you missed it? We’re happy to provide a review of the highlights...

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CFPB Who?

By growing at “no speed limits,” large credit unions have injured countless numbers of consumers on the road. The industry continuously ignores rules established by the Consumer Financial Protection B...

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10 Questions We Would Have Asked NCUA Board Nominees

Last week two new NCUA board nominees, Todd Harper and Rodney Hood, were questioned on the direction of the credit union industry by the Senate Banking Committee in their confirmation hearing. Banking...

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NCUA’s Failures Drive PenFed’s Greed

PenFed is quickly turning into the poster child for credit union industry problems. The $24.5 billion credit union recently announced its acquisition of Progressive Credit Union, a New York-based cred...

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By Acquiring Progressive, PenFed Could Be Allowed to Serve Anyone

PenFed announced Wednesday that it has acquired Progressive Credit Union, a New York City-based credit union that has suffered heavy losses because of its taxi medallion loans. The NCUA approved th...

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While Other Nonprofits Struggle with Reporting Responsibilities…Credit Unions Get Off Scot-Free

The Treasury Department is trying to blunt the impact of an unpopular new tax on churches and other nonprofits. The agency released interim regulations today spelling out exactly how the tax...

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Money Is Power, and NCUA Is About to Have None

Once again credit unions are gaming the system, this time by trying to defund their own regulator. Large credit unions pushed for several provisions in a new financial deregulation bill that would all...

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credit unions not paying taxes

After Failure of Six Large Credit Unions, NCUA’s Share Insurance Fund Drops by Nearly $750 Million

Fueled by the failures of six credit unions this year, the NCUA’s Share Insurance Fund reserves had dropped $744.9 million by the end of the year’s 3rd Quarter, agency officials said Thursday. Despite...

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Is NCUA on Permanent Vacation?

If you’re driving on a freeway and know there won’t be a cop for miles, will you follow speed limits anyway? Maybe not. And if you run America’s second largest credit union and know the cops either ar...

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Are Credit Unions Practicing Predatory Lending?

Senator Elizabeth Warren (D-MA), who is no friend of big banks, recently asked a simple question: should credit unions have to adhere to the Community Reinvestment Act (CRA)? According the Office of t...

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