VyStar CU President Accuses ICBA of ‘Mischaracterizing’ Bank Purchase

Vystar Credit Union agreed to buy Heritage Southeast Bank. The deal will be the credit union industry’s largest-ever bank acquisition and set off a war of words over the credit union tax exemption. VyStar Credit Union and the Credit Union National Association have a few things to say about the Independent Community Bankers of America’s characterization of the deal.

CFPB Proposes to Stop Foreclosures Through the End of 2021

The Consumer Financial Protection Bureau is proposing a rule that would stop mortgage servicers from foreclosing on most home loans before December 31, 2021. This follows the agency’s withdrawal of its earlier position that financial services companies would have flexibility in following agency rules during the pandemic. The comment period on the proposed mortgage rule will be open until May 10.