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Sen. Schumer Criticizes NCUA and Demands Improvements in Oversight

NCUA is finally on the hot seat, and it’s more than well-deserved. Senate Minority Leader Charles Schumer (D-NY) has taken notice of recent negative reports regarding the major lack of oversight at NC...

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NCUA’s Reckless Cybersecurity Standards Put Members at Risk

And the hits keep coming for the credit union industry regulator. Turns out the NCUA Inspector General has had a very busy couple of years. Shortly after the release of its 2018 Material Loss Review, ...

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NCUA Inspector General: NCUA failed to regulate credit unions

NCUA has had a bad few weeks, to put it nicely. Right after it was revealed that the agency failed to catch a 20-year $40 million embezzlement scheme at CBS Employees Federal Credit Union, a new repor...

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10 Questions We Would Ask NCUA Leadership at the Congressional Committee Hearings

This week, National Credit Union Administration (NCUA) Chairman Rodney E. Hood faces questioning from the Senate Banking Committee. Here’s what we would ask Chairman Hood at the hearing: Earlier t...

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$40 Million in Member Funds Down the Drain. NCUA: Sit Up and Take Notice

The first credit union failure of the year has occurred – and while we may have seen it coming, the National Credit Union Administration apparently (again) did not. In late March, NCUA announced the l...

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‘Nonprofit’ Maine Credit Union Selling $2 Million Luxury Condo

One credit union here has an unusual item for sale: a $2-million condominium. cPort Credit Union has listed a luxury condo on the top two floors of its newest branch in Portland’s East End. The 2,5...

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Credit Unions Soar Away From Their Mission….with Airplane Loans

Looking to buy your own personal plane? Yeah…me neither. But for those of us who are, credit unions have you covered! A recent report by CU Journal revealed that credit unions in states such as Florid...

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Credit Unions’ Top Priorities on the Hill in 2019? Killing Transparency, Preserving Millionaire Compensation

No shame in the credit union industry’s game. Earlier this week, Jim Nussle, president and CEO of the Credit Union National Association (CUNA), one of the largest industry trade groups, sent a letter ...

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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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