News & Analysis as of

Credit Unions

Sheppard Mullin Richter & Hampton LLP

West Virginia Federal Court Certifies Class Action Challenging “Pay-to-Pay” Fees

On November 3, the U.S. District Court for the Northern District of West Virginia granted class certification certified a statewide class of borrowers challenging a credit union’s alleged assessment of unauthorized...more

Ballard Spahr LLP

NCUA proposes rule to eliminate ‘reputational risk’ from supervision process

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The NCUA has issued a Notice of Proposed Rulemaking to codify the elimination of reputational risk from its supervisory program, becoming the latest federal financial regulator to do so. ...more

Troutman Pepper Locke

Quarterly Insights: Driving Through Q2 Auto Finance Data — Moving the Metal: The Auto Finance Podcast

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In this episode of Moving the Metal: The Auto Finance Podcast, hosts Brooke Conkle and Chris Capurso dive into the latest Experian auto finance quarterly report to explore the latest trends in auto finance for the second...more

Sheppard Mullin Richter & Hampton LLP

NCUA Proposes Rule Prohibiting Use of Reputation Risk in Supervision

On October 21, 2025, the National Credit Union Administration (NCUA) announced a proposed rule to formally remove “reputation risk” from its supervisory framework under the Federal Credit Union Act. The proposal would amend...more

Orrick, Herrington & Sutcliffe LLP

District court holds plaintiffs lacked standing to sue credit union for data breach

On October 9, the U.S. District Court for the District of South Carolina dismissed without prejudice a consolidated complaint brought by seven members of a credit union whose personal information was compromised in a 2024...more

Ballard Spahr LLP

NCUA’s Hauptman vows to prohibit regulation through enforcement

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NCUA Chairman Kyle S. Hauptman said that through the issuance of a policy statement he is reenforcing an agency policy to prohibit officials from setting new policy through enforcement actions....more

Orrick, Herrington & Sutcliffe LLP

FinCEN Issues FAQs Clarifying SAR Reporting Requirements

On October 9, 2025, the Financial Crimes Enforcement Network (FinCEN), along with the banking and credit union regulators, issued guidance in the form of frequently asked questions (FAQs) addressing the regulatory...more

Troutman Pepper Locke

The Future of Bank-Fintech Collaborations in Digital Finance — Payments Pros – The Payments Law Podcast

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In this special crossover episode of The Crypto Exchange and Payments Pros podcasts, hosts Ethan Ostroff and Carlin McCrory, along with James Stevens, co-leader of Troutman Pepper Locke's Financial Services Industry Group,...more

Troutman Pepper Locke

The Future of Bank-Fintech Collaborations in Digital Finance — The Crypto Exchange Podcast

Troutman Pepper Locke on

In this special crossover episode of The Crypto Exchange and Payments Pros podcasts, hosts Ethan Ostroff and Carlin McCrory, along with James Stevens, co-leader of Troutman Pepper Locke's Financial Services Industry Group,...more

Orrick, Herrington & Sutcliffe LLP

NCUA removes reputation risk from consideration in supervision

On September 25, the NCUA announced that reputation risk would no longer factor into its examinations and supervisory process, effective immediately. ...more

Jackson Lewis P.C.

How Financial Services and Credit Unions Can Navigate Risks When Structuring Employee Bonus Plans

Jackson Lewis P.C. on

Bonus plans are a cornerstone of total compensation and help retain top talent and drive productivity in the financial services industry. By linking bonuses directly to measurable goals such as growth, production, and...more

Woods Rogers

Cryptocurrency and Digital Assets under Trump 2.0: A Cheat Sheet for Community Banks and Credit Unions

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The second Trump administration has moved aggressively to promote crypto-friendly reforms and initiatives. From appointing pro-crypto advocates to key executive branch posts to issuing executive orders deregulating policies...more

Husch Blackwell LLP

Wisconsin Court of Appeals Affirms Primacy of UCC Safe-Harbor Pre- and Post-Sale Notices After Repossession

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The Wisconsin Court of Appeals issued a significant decision in Birge v. Simplicity Credit Union, rejecting a consumer’s challenge to the use of the Uniform Commercial Code (UCC) safe-harbor pre-sale and post-sale notice...more

Orrick, Herrington & Sutcliffe LLP

NYDFS broadens blockchain analytics guidance in industry letter to state banks

On September 17, NYDFS announced it had extended its blockchain analytics guidance to all New York State chartered banks, credit unions, and branches and agencies of foreign banking organizations....more

Orrick, Herrington & Sutcliffe LLP

NYDFS issues request for information on overdraft fees, compliance costs, and consumer communications

On September 5, NYDFS issued a request for information (RFI) seeking further information from state-chartered banks, credit unions, and other stakeholders regarding overdraft and insufficient funds-related policies,...more

Bradley Arant Boult Cummings LLP

OCC Announces That Debanking Practices Will Be Scrutinized During Bank Licensing and Community Reinvestment Reviews

On September 8, 2025, the Office of the Comptroller of the Currency (OCC) released Bulletin 2025-22, announcing that the OCC will assess an entity’s debanking practices when considering licensing filings and applications and...more

Bradley Arant Boult Cummings LLP

President Trump Signs Debanking Executive Order: Horizontal Reviews for Banks and Credit Unions are Next

Late last year, we predicted that the Trump administration would bring federal action to target de-banking, and on August 7, 2025, President Trump signed a much-anticipated executive order to address the issue. Banks and...more

Orrick, Herrington & Sutcliffe LLP

Ninth Circuit sides with credit union after finding NCUA regulations preempted California state law

On August 1, the U.S. Court of Appeals for the 9th Circuit affirmed the dismissal of claims under California’s Unfair Competition Law (UCL) against a federal credit union, holding that federal law preempts state regulation of...more

Orrick, Herrington & Sutcliffe LLP

CFPB terminates its consent order with a credit union

On July 18, the CFPB terminated a consent order against a credit union after confirming that the credit union fulfilled “certain obligations” under the original consent order, including paying a $1.5 million civil money...more

Goodwin

CFPB Terminates Consent Order Against Credit Union

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On July 21, 2025, the Consumer Financial Protection Bureau (CFPB) announced that it had terminated its October 2024 consent order with a Florida-based credit union....more

Sheppard Mullin Richter & Hampton LLP

CFPB Terminates Consent Order Against Credit Union Early

On July 18, the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS ACT) was signed into law, creating the first federal regulatory framework for payment stablecoins. The law prohibits the issuance...more

Troutman Pepper Locke

Credit Unions Advocate for Digital Asset Custody in Light of GENIUS Act

Troutman Pepper Locke on

On July 18, America’s Credit Unions sent a letter to the Honorable Kyle Hauptman, Chairman of the National Credit Union Administration (NCUA), urging the agency to initiate rulemaking that would allow credit unions to take...more

Husch Blackwell LLP

New Exemption Order Creates More Flexibility and More Considerations with the Customer Identification Program Rule

Husch Blackwell LLP on

By an exemption order dated June 27, 2025, federal prudential regulators have given banks and credit unions some welcomed flexibility when collecting an individual’s or entity’s taxpayer identification number (TIN) during...more

A&O Shearman

PRA consults on proposed reforms to credit union investment rules

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The Prudential Regulation Authority (PRA) has published consultation paper CP13/25 proposing amendments to the credit union investment rules to permit investments in credit union service organisations (CUSOs). The proposals...more

Jackson Lewis P.C.

HB1127 Explained: North Dakota’s New InfoSec Requirements for Financial Corporations

Jackson Lewis P.C. on

Earlier this year, North Dakota’s Governor signed HB 1127, which introduces new compliance obligations for financial corporations operating in North Dakota. This new law will take effect on August 1, 2025....more

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