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Despite stiff competition, compounded with confusion surrounding President Biden's loan forgiveness program, credit unions managed to bring their student-loan portfolios back from pandemic lows.
Through lending programs, financial coaching and hiring practices tailored for inclusion, these CEOs provided crucial services to underserved communities.
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.
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.