Supreme Court's May Not Be Last Word On Arbitration
The Supreme Court last week ruled in favor of giving financial services companies the right to include mandatory arbitration clauses in contracts with customers. The high court is set to discuss another case this Fall with potential ramifications for the Consumer Financial Protection Bureau and credit unions: A case addressing the constitutionality of President Barack Obama's recess appointments. Read More
Credit Unions Back Regulatory Overhaul
The National Association of Federal Credit Unions (NAFCU) is throwing its support behind Senate legislation requiring independent agencies to measure the costs of proposed regulations before they are enacted.

Existing rules require executive branch agencies to weigh the benefits of major proposed regulations against the expense of enacting them. But independent agencies — including the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the Consumer Financial Protection Bureau (CFPB) — are exempt from the requirement. Read More
Credit Unions in Auto Loan Fast Lane as Banks Stall
When it comes to the amount of auto loans they’ve recently originated, some banks have apparently stalled out.

According to data from tracking firm SNL Financial, the top 100 lenders increased their total auto loans by just 0.64% over the fourth quarter of 2012. Among these, the top 16 lenders didn’t budge from their spots compared to a quarter earlier. Read More

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