Newsroom
NAFCU's Berger in WSJ defends CU-bank mergers; NCUA plans clarifying rule
"Credit unions serve the greater good, not the greater greed," NAFCU President and CEO Dan Berger told The Wall Street Journal in a recent interview. Citing an uptick in the number of credit unions that have acquired banks, the publication reported on credit union merger activity.
"Credit unions are buying small banks in record numbers, a trend that is prompting pushback from the banking industry," the story read.
Predictably, these transactions have promoted meritless criticisms from the banking industry – which NAFCU continues to proactively push back on. The association consistently works to set the record straight on the differences between credit unions and banks as the banking industry continues to lobby to undermine credit union competition.
In a series of tweets, NCUA Chairman Rodney Hood committed to introducing a rule to clarify credit unions' regulatory responsibilities when acquiring banks by the end of 2019.
"The NCUA must approve these transactions, as does the FDIC for these identical transactions […] I plan for the NCUA to consider a rulemaking on this issue to add even more transparency to the process," said Hood.
As the credit union industry's Washington Watchdog, NAFCU will continue to defend credit unions' ability to serve their members and local communities, including their ability to grow.
Read the full story here.
Share This
Related Resources
Add to Calendar 2024-05-03 14:00:00 2024-05-03 14:00:00 Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing About the Webinar In January 2024, Pentegra conducted a survey of retirement plan sponsors and their perspectives on retirement plan management and fiduciary outsourcing. The survey measured how sponsors are using fiduciary outsourcing to help better manage their retirement plans. It also captured their perspectives on what outsourcing does to help them better position their plans and drive improved retirement plan outcomes. Key Takeaways: What is the full scope of your responsibilities as a plan sponsor? What is fiduciary outsourcing and how does it work? How does fiduciary outsourcing help reduce workloads and minimize risk? How can a credit union best position its plan to drive improved outcomes? Register Here Web NAFCU digital@nafcu.org America/New_York public
Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing
preferred partner
Pentegra
Webinar
Ensuring Safety and Soundness with AI
Management, Consumer Lending, FinTech
preferred partner
Upstart
Blog Post
Turning Lemons into Lemonade: Capitalizing in a Post-Banking Crisis Era
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-05-02 14:00:00 2024-05-02 14:00:00 Mastering Resilience in Incident Response Plans About the Webinar An Incident Response (IR) plan is crucial for guiding credit unions through major incidents efficiently and effectively. However, many IR plans lack resilience, making them less adaptable to the evolving threat landscape. Join us for our webinar Mastering Resilience in Incident Response Plans where DefenseStorm cyber experts Elizabeth Houser and James Bruhl will delve into the importance of resiliency within cybersecurity IR plans. Don’t miss out on the opportunity to learn how to: Ensure IR plan accessibility so that all team members with assigned roles are prepared for effective incident response. Conduct efficient and regular reviews to ensure roles and responsibilities are current, tools are relevant, and compliance requirements are met. Implement and utilize tabletops to regularly test the effectiveness of your IR plan. Enhance preparedness, efficiency, and confidence among responders. View On-Demand Web NAFCU digital@nafcu.org America/New_York public
Mastering Resilience in Incident Response Plans
preferred partner
DefenseStorm
Webinar
Get daily updates.
Subscribe to NAFCU today.