Page 21 - Cuj Feature News Today

Some are eliminating their charges for overdrawn accounts in response to recent reforms by big banks and the consumer-friendly practices of neobank rivals.

The Louisiana Credit Union League is nearing the launch of a social network that will allow its constituents to stay in touch even when they can't meet in person, whether due to the pandemic or natural disasters.

The economic and political conditions are in place for bank-credit union mergers to blow past last year's total of 13 despite the banking industry's strong opposition to them.

Brian Knight of the National Association of State Credit Union Supervisors will prioritize collaboration with the National Credit Union Administration in his efforts to help state-chartered institutions stay competitive with federally chartered credit unions as well as community banks and fintechs.

Hundreds of bankers and credit union executives are seeking exemptions and changes to a Consumer Financial Protection Bureau proposal to collect race, ethnicity and gender information about small-business borrowers that they describe as burdensome and unworkable.

Some community banks and credit unions worry that by hiring out-of-state workers to fill their many job openings, as other employers have done, they could erode community ties.

The National Credit Union Administration approved four new credit unions in 2021 — the most in six years — after revamping the application process.

Banks and credit unions that cater to members of the armed forces are partnering with fintechs or patenting their own tools to help users convert currency, borrow money and handle financial matters in environments with unreliable internet service.

Branches across the country have closed temporarily, or switched to drive-thru service, as infections and quarantine rules have forced many bank workers to stay home.

The National Credit Union Administration has given its first guidance on handling Bitcoin and other digital assets in an effort to encourage credit unions to work with fintechs to offer new services.