NCUA could finalize MBL rule next week; FOM letters top 11,000

The League is hearing from NCUA sources that the NCUA board will vote to finalize changes to the member business lending (MBL) regulation at its February 18 meeting. The revisions to the current MBL rule were proposed and issued for comment at the board’s June meeting. At that time, the proposal would “provide federally insured […]

White House budget includes tax on big banks

The final budget proposal from the White House looks to add $4 trillion in new spending and pay for it by taxing the wealthy, oil companies, and big banks. The proposed budget includes a new fee “on the largest financial firms on the basis of their liabilities.” This was one of a number of taxes […]

Apple Pay expanding and growing

Apple added 30 financial institutions to its Apple Pay platform recently bringing the total of new financial institutions for 2016 to 81. Apple is signing on new retailers every month. Chick-fil-A restaurants, Au Bon Pain restaurants, and Crate & Barrel stores. The Square has also rolled out an Apple Pay Reader for $49 which will […]

League files comment on IOTAs in Florida

This past week, the League filed comment on an amendment to the Rules Regulating the Florida Bar that would allow credit unions as permissible custodians of attorney trust accounts. IOTAs, as they are known in Florida, are currently only allowed to be opened at banks because the NCUA would not insure these accounts previously. With […]

Alabama legislative session ends first week

It was not that long ago that the Alabama Legislature was in Montgomery for the last of two special sessions in order to craft a workable budget and keep the state open for business. They begin this week for an expected four-month regular session. Very little business occurs during the first week of the session, […]