Following the first-ever public hearing held by the New York City Banking Commission yesterday (May 25), all three members voted to limit deposits at Capital One—the ninth-biggest bank in the US —and KeyBank. The authorities alleged the two banks not only “failed to submit required plans demonstrating their efforts to root out discrimination,” but also “outright refused to submit required policies,” according to their press release.
The National Credit Union Administration (NCUA) is a federal agency that oversees credit unions and insures the money people deposit in credit union accounts. In that way, it plays a very similar role to the Federal Deposit Insurance Corporation (FDIC), the agency that insures bank deposits.
Over the past year, credit unions in the United States have experienced considerable growth, even in the face of macroeconomic challenges. Credit unions are not-for-profit, member-owned financial cooperatives that aim to provide their members with affordable, high-quality financial services. With their focus on people, not profits, and their commitment to community development, according to NCUA, the credit union system’s net worth increased by $21.4 billion, or 10.1 percent, during 2022 to $232.9 billion. The aggregate net worth ratio — net worth as a percentage of assets — stood at 10.74 percent in the fourth quarter of 2022, up from 10.26 percent in 2021.
TYSONS, Va., May 26, 2023 /PRNewswire/ -- PenFed Credit Union, the nation's second largest federal credit union, will dedicate the PenFed Tunnel in the Concourse C Connector at Washington Dulles International Airport (IAD) to our nation's military heroes who made the ultimate sacrifice during Memorial Day weekend.
ALEXANDRIA, Va. (May 25, 2023) – The National Credit Union Administration Board held its fifth open meeting of 2023 and approved a proposed rule that would amend the charitable donation accounts section of the NCUA’s incidental powers regulation. In addition, the NCUA’s Chief Financial Officer briefed the Board on the performance of the National Credit Union Share Insurance Fund during the first quarter of 2023.
.jpg)
.jpg)