State regulator calls for cease and desist order..The $600 million Vermont State Employees Credit Union, which is embroiled in a legal challenge over the use of the term “banking” in its advertising, appealed Friday for member and public support for its cause, warning an unfavorable outcome could lead to a switch to a federal charter...VSECU Ponders Switch to Federal Charter in ‘Bank’ Ad Dispute:
The NCUA Board heard briefings on four topics during its meeting Thursday, including the status of the deregulation initiative, a clarification regarding existing rules applicable to brokered and reciprocal deposit arrangements, and the agency’s 2026-2030 Strategic Plan and 2026 Annual Performance Plan. Acting Director of the Office of Examination and Insurance Amanda Parkhill provided an overview of Phase 1 of the agency’s Deregulation Project, which focuses on targeted, technical changes to remove outdated or unnecessary requirements and improve clarity. The agency made it clear that the effort will likely continue into late 2026 or early 2027, evolving over time based on policy priorities and stakeholder input. NCUA General Counsel Frank Kressman briefed the board on brokered and reciprocal deposit arrangements and the NCUA’s FAQs on this topic. The briefing demonstrated how a brokered deposit network operates with respect to low-income designated (LID) FICUs ...

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