This year the credit union industry has largely been preoccupied with dealing with the coronavirus pandemic. But a few other stories also garnered attention, including news of members rejecting a merger, a call for eliminating field-of-membership requirements and a scandal at the National Credit Union Administration. Read on for some of the Credit Union Journal's top read stories this year.
The Federal Housing Administration also instituted a new language preference requirement that servicers must observe in transfers.
At an industry conference, Consumer Financial Protection Bureau Director Rohit Chopra said he was open to suggestions on how to increase choice and competition to benefit mortgage lenders and borrowers.
One year after it bought First Republic Bank, the largest U.S. bank by assets is launching J.P. Morgan Private Client, a new tier in its affluent-consumer services that brings together JPMorgan's brand with First Republic's concierge model.
Criminals breached a third-party database storing Santander customer and employee information, a type of intrusion that banks are increasingly facing.
The Florida-based bank, which has been expanding across the South, would enter major markets such as Dallas and Houston with its planned all-stock acquisition of Independent Bank Group.
Federal Reserve Vice Chair Michael Barr Monday spoke at length about efforts to enhance banks' liquidity and long-term debt positions after last year's bank failures while saying little about the capital hikes in the embattled interagency Basel III endgame proposal.
