Showing posts with label NAFCU. Show all posts
Showing posts with label NAFCU. Show all posts

Wednesday, September 19, 2018

NAFCU's Berger Recession Possible in 2019, NCUA Should Assess Premiums

Dan Berger, the chief executive of the National Association of Federally-Insured Credit Unions (NAFCU), is arguing that U.S. economy could be in a recession as soon as the end of 2019.

Appearing on Hill.TV's "Rising", Mr. Berger stated that " [t]he recession could hit end of 2019 — maybe the first quarter of 2020," if a very large bank was to fail.

As background, NAFCU is advocating for the reinstatement of the Glass-Steagall Act, which separated commercial banking from investment banking.

Given Mr. Berger's dire prediction of an imminent recession, the National Credit Union Administration should immediately assess premiums on all federally insured credit unions to ensure that the National Credit Union Share Insurance Fund has adequate resources to resolve credit union failures.

Also by preemptively assessing premiums, this would limit any spike in premium assessments at the very moment that credit unions would have difficulty affording these higher assessments.

Read the story.

Posted by at 4 comments:
Labels: , , , ,

Saturday, March 11, 2017

Oops! CU Trade Groups Retract Statement Saying ICBA Had Missed the Appeals Deadline

Credit union trade groups issued a correction after saying the legal deadline had passed for community bankers to file an appeal in their lawsuit against the National Credit Union Administration's Member Business Loan rule.

In a statement, the Credit Union National Association and National Association of Federally-Insured Credit Unions acknowledged that the Independent Community Bankers of America (ICBA) has until March 27 to appeal the case.

In an earlier statement, the credit union trade groups had stated that ICBA had missed a February 23 deadline to appeal the case.

Read the statement.

Posted by at No comments:
Labels: , , ,
Subscribe to: Posts (Atom)
 

The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.