Credit unions

Draft legislation would amend the Bank Service Company Act to give the National Credit Union Administration third-party vendor oversight, a power it has been requesting for the better part of two decades.

The four prudential agencies, which will enforce the new credit loss methodology developed by the Financial Accounting Standards Board, said they want to promote consistency.

The court passed up a recent opportunity to clarify confusion about Americans with Disabilities Act requirements for business websites, raising concerns among bankers that they could become an even more inviting litigation target.

The National Credit Union Administration caught flak after it approved raising the threshold for appraisals on commercial real estate loans to $1 million.

Freedom Northwest in Idaho hopes a proposal from the NCUA will help it bring in more deposits to fund a fast-growing mortgage business. Banks are crying foul.

The 2020 presidential hopeful removed the contentious provision from a previous version of the bill that had won praise from bankers but sparked fierce opposition from credit unions.

Community banks and credit unions fear a Senate plan and other legislative ideas will nullify steps taken by Fannie Mae and Freddie Mac that have made it easier for smaller institutions to compete.

Executives urged the consumer bureau at a public meeting to keep a closer eye on artificial intelligence innovations developed by fintech firms that are subject to less regulation.

QRL Financial Services, the mortgage outsourcing division of First Federal Bank of Florida, is the latest investor to seek out better secondary market execution by purchasing electronic notes from correspondents.

The House of Representatives passed two bills that would tie appraisal waivers for Small Business Administration loans to bank rules for commercial real estate loans, despite objections from the Appraisal Institute about its members being cut out of transactions.