There are more than 100 privately insured credit unions in the country, including 44 in Ohio. But those financial institutions are left out of the Fed's BTFP emergency lending facility due to how rules are currently written. U.S. Sens. Sherrod Brown and JD Vance are helping push for a change in those rules.
Field-of-membership (FOM) modernization is all about removing barriers and creating opportunities for consumers and businesses. It’s a top priority for
The state's Treasurer's office is urging lenders to make loans to cover the steep costs of adoption. Participating credit unions get an extra incentive by being permitted to accept deposits from public institutions a perk typically enjoyed only by banks.
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Reps. Juan Vargas (D-Calif.) and Anthony Gonzalez (R-Ohio) Tuesday introduced the CUNA-League supported Credit Union Board Modernization Act (H.R. 6889),