Page 35 - Cuj Content News Today

With new guidance and a simplified chartering process, the National Credit Union Administration seeks to counter the trend of closures and consolidations.

Lendistry, a fintech community development financial institution, obtained a license that allows it to become one of the few nondepository lenders with access to the Small Business Administration's flagship lending program.

LincolnWay Community Bank in Illinois has agreed to be sold to CoVantage in Wisconsin, adding to a trend of bank-credit union deals that has drawn backlash from many small-bank executives.

Although small banks and credit unions are enjoying healthier loan portfolios, they are also bracing for potential setbacks due to higher interest rates and inflation.

The National Credit Union Administration took steps to increase hires of women, minorities and people with disabilities in 2021, making its staff more representative of the general population.

The Consumer Financial Protection Bureau is examining whether artificial intelligence discriminates against minorities and other applicants. But GreenState Credit Union in Iowa says the technology can be harnessed to make lending fairer in underserved communities.

Regulators in a half dozen states have now thrown at least temporary roadblocks in front of credit unions’ effort to buy community banks.

The Consumer Financial Protection Bureau is examining whether artificial intelligence discriminates against minorities and other applicants. But GreenState Credit Union in Iowa says the technology can be harnessed to make lending fairer in underserved communities.

Stephen Owen has worked for Bank of America and OnPoint Community Credit Union in Oregon, and will succeed Charles Bruen at the Hollywood-based credit union.

Matt Rookard, who has worked on economic development initiatives in the state, will succeed Bob Gallman, the former president and chief executive, on May 2.