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The National Credit Union Administration has asked Congress to restore its authority over credit union service organizations and other vendors, but some in the industry say the regulator already has enough on its plate.
Simpler and more inclusive application processes are helping these lenders address the pain points that underserved borrowers encounter at other institutions.
John Bagents succeeds Rick Schmidt, who announced his retirement in May, as president and chief executive.
Sharonview Federal Credit Union in Indian Land, South Carolina, named Herb White as its new president and chief executive. He will replace outgoing CEO Bill Partin on Jan. 1.
The National Credit Union Administration in January proposed a rule that would require credit unions to have succession plans in place. Despite the necessity for arrangements, many CEOs want autonomy in the process and would rather avoid a formal rule.