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Latest News Posts
- House Passes Bill to Avert Government Shutdown, Measure Heads to Senate
February 29, 2024House lawmakers approved a temporary spending bill to prevent a partial government shutdown this weekend, with Speaker Mike Johnson (R., La.) forced once again to turn to a coalition made up mostly of Democrats to pass it. The vote was 320 to 99, with slightly more than half of Republicans joining with almost all Democrats to support the measure.
- US Credit Unions' Credit Quality, Liquidity Positions Deteriorating
February 29, 2024More credit unions are seeing regulatory rating downgrades as credit quality and liquidity issues rear their heads. National Credit Union Administration Chairman Todd Harper is concerned about the safety and soundness of the credit union industry as the number of institutions with adverse CAMELS ratings is on the rise. In a speech earlier this month, the regulator expressed specific concerns about credit quality and liquidity. Data analysis by S&P Global Market Intelligence found that the industry's overall credit quality is deteriorating while its capital position is a mixed bag.
- SE Management School: Enrollment Now Open for 2024
February 28, 2024Southeast Management School is on a mission to provide you with a premier opportunity to develop your leadership skills so that you can more greatly contribute to the success of your credit union. This intensive, focused program takes three years to complete and meets annually for one week in June at the University of Georgia. Completion of this program guarantees that you'll develop the operational, managerial and leadership abilities necessary to take your career to the next level!
- Jonathan Karl Joins IGNITE Lineup as Keynote
February 27, 2024Your League is excited to announce the addition of renowned journalist and author Jonathan Karl as a keynote speaker at IGNITE | the League Annual Meeting.
Jonathan Karl is the chief Washington correspondent for ABC News and co-anchor of “This Week.”
- REGular Blog: An Update on NCUA Requiring Large Credit Unions to Report Overdraft and NSF Fee Income
February 27, 2024A couple of weeks ago we wrote about NCUA Chairman Todd Harper's speech and discussion at the Brookings Institution, during which he discussed how NCUA would be amending the Call Report to require large credit unions (in this case meaning more than $1 billion in total assets) to report income from overdraft fees and NSF fees. He stated the agency was working on the change through the Paperwork Reduction Act. Today we are looking at what exactly are the changes that are being proposed as well as what is still unclear about the proposed change.
- Chartway's Tyjai Richardson Serves as Mentor for GAC Crashers
February 27, 2024Tyjai returns this year as a Mentor for the new crashers. He shares his top 3 tips for getting the most out of GAC.
- VA-Based CUs Send 3 Crashers to the GAC
February 27, 2024The 2024 Crash the Governmental Affairs Conference (GAC) delegation comprises talented credit union professionals from across the country who have demonstrated exceptional dedication to the credit union industry. 3 participants this year hail from Virginia-based credit unions: Sabrina Guerin, MBA, CCUFC of Virginia Credit Union, plus Benjamin Soto & Tyjai Richardson, CCUFC, both of Chartway Credit Union. Gearing up for the upcoming GAC, they reflect on what interests them in the Crashers program...
- Four Virginians Among 29 Credit Union Innovators Selected for Filene's i3 Program
February 27, 2024Twenty-nine of the credit union industry’s most innovative leaders come together to form the newest cohort of the Filene i3 Program. This latest cohort includes four credit union professionals from Virginia-based credit unions. In its 20th year, the prestigious program experiences heightened demand and intensified competition, as an increasing multitude of exceptional credit union professionals submit their applications every year. Filene i3 is a two-year innovation leadership program equipping top credit union professionals with the mindset, tools, and network to lead and shape the credit union of the 21st Century.
- FinCEN Sees Increase in BSA Reporting Involving the Use of Convertible Virtual Currency for Online Child Sexual Exploitation and Human Trafficking
February 27, 2024The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Financial Trend Analysis (FTA) today reflecting an increase in Bank Secrecy Act (BSA) reporting associated with the use of convertible virtual currency (CVC) and online child sexual exploitation (OCSE) and human trafficking. This FTA is based on BSA reporting filed between January 2020 and December 2021. FinCEN’s analysis highlights the value of BSA reporting filed by regulated financial institutions.
- Philly Fed Says ‘Banking Deserts’ Are Growing; Does It Matter — and How Much is a Mirage?
February 27, 2024A Philadelphia Federal Reserve Bank analysis indicates that branch closures between 2019 and 2023 created more 'banking deserts.' But with digital banking adoption accelerating, does the closure trend matter? The five states seeing the largest decrease in branches relative to 2019 totals included Virginia (down 12.5%), Maryland (down 12.1%), New Jersey (down 11.7%), Oregon (down 9.9%) and Pennsylvania (down 9.8%).