Community Banks and Credit Unions

The Independent Community Bankers of America has expressed conditional support for several of Nacha’s proposed amendments to the Automated Clearing House operating rules, emphasizing the need for balanced implementation while considering operational risks and fraud prevention. Read on »

A myriad of trade advocates emphasized their support for legislation seeking to impose a widely supported prohibition on “trigger leads,” sold by credit agencies when consumers apply for residential mortgage loans, in letters to House committee leaders. Read on »

The Senate voted to confirm Michelle “Miki” Bowman to serve at the Federal Reserve’s vice chair for supervision. The financial services industry, which has expressed strong support for Bowman since her nomination in March, reacted favorably to her confirmation. Read on »

The Federal Deposit Insurance Corp. released the results of its quarterly banking profile, summarizing financial data collected from 4,462 insured commercial banks and savings institutions for the first quarter. Read on »

Legislation seeking to establish a clear regulatory framework for stablecoins has drawn pushback from the financial services sector over a requirement pertaining to credit card transactions. Critics claim this provision will increase fraud risk and increase credit costs. Read on »

Federal banking regulators have taken steps to improve clarity surrounding digital banking activities, including crypto-assets and digitalization. Find out about some of the latest regulatory moves in this respect and more in this roundup. Read on »

Frontier Credit Union took a step toward expanding its operations into new territory with an agreement to acquire a community bank based in Montana. The news drew the attention of community banking advocates concerned about the ongoing trend of bank purchases by tax-exempt credit unions. Read on »

As financial technology and digital assets remain ever-growing factors in the financial services industry, trade organizations continue to increase efforts to advocate for new policies to help their members remain competitive. Read about some of the latest developments with respect to this topic and more in this roundup. Read on »

The nation’s largest mortgage trade group offered its most recent take on how economic conditions are impacting home purchases while community bankers and credit unions are focused intently on the budget reconciliation process in Congress. Read on »

A pair of credit unions with a long history serving the aviation industry are planning a merger to improve service, sustainability and growth potential. The combining of Ent Credit Union of Colorado and Wings Credit Union of Minnesota will result in one institution with approximately $19.6 billion in total assets serving nearly one million members. Read on »