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The Spotlight

  • CUNA Meets with the Consumer Financial Protection Bureau

    Jul
    06
    CUNA Meets with the Consumer Financial Protection Bureau

    On June 25, the Credit Union National Association's (CUNA) Regulatory Advocacy group met with top officials of the Consumer Financial Protection Bureau's (CFPB) regulatory division to discuss a range of issues of concern to credit unions.  Leading off with serious concerns about the direction the agency may be going in regulation of overdraft issues, CUNA previewed its comment lette

    Posted By Sharon Bahr read more
  • United Labor to Host Free "Paths to Credit Worthiness"

    Jul
    05
    United Labor to Host Free "Paths to Credit Worthiness"

    It’s a classic Catch-22 of personal finance: You have to have a credit history to qualify for credit. And, you have to have credit to build a credit record. Similarly, if you’ve dinged up your credit record with careless habits, it’s hard to qualify for credit. Certainly, it’s hard to qualify for credit at anything near a reasonable rate of interest.

    Posted By Sharon Bahr read more
  • CUNA Files Comments on CFPB's Data Collection of Overdraft Protection

    Jul
    05
    CUNA Files Comments on CFPB's Data Collection of Overdraft Protection

    On June 29, the Credit Union National Association (CUNA) filed a comment letter with the Consumer Financial Protection Bureau (CFPB) in response to its request for information on overdraft protection programs and practices.

    Posted By Sharon Bahr read more
  • Update on Projected Corporate Stabilization Fund Assessments

    Jul
    04
    Update on Projected Corporate Stabilization Fund Assessments

    The most important implication for credit unions of the new Temporary Corporate Credit Union Stabilization Fund (TCCUSF) financial statements, combined with the updated information posted June 29 by the National Credit Union Administration (NCUA) on its website on Corporate System Resolution Costs, is what it says about the likely remaining assessments for that fund, said Credit Union National Association (CUNA) Chief Economist Bill Hampel in a recent analysis.

    Posted By Sharon Bahr read more
  • NCUA's Board Agenda for July Will Be Hefty

    Jul
    03
    NCUA's Board Agenda for July Will Be Hefty

    National Credit Union Administration's (NCUA) July Board meeting will have a weighty agenda, particularly compared to previous months such as June when there was no open board meeting.  NCUA has not released the official agenda yet (the agency is required by law to publish the agenda a week before the meeting). 

    Posted By Sharon Bahr read more
  • NCUA Delays Advancement of Loan Participations* as well as CUSO Proposals

    Jul
    02
    NCUA Delays Advancement of Loan Participations* as well as CUSO Proposals

    Following up on the positive development from the week June 18 regarding the delay of a new final rule on credit union service organizations (CUSOs), National Credit Union Administration (NCUA) Board Chairman Debbie Matz announced last week at a meeting of the Credit Union Association of the Dakotas that she is also postponing consideration of a final rule on loan participations.  W

    Posted By Sharon Bahr read more
  • Interagency Mortgage Servicing Guidance Issued

    Jun
    30
    Interagency Mortgage Servicing Guidance Issued

    The Federal Reserve Board (Fed) joined together with the Consumer Financial Protection Bureau (CFPB), NCUA, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency to issue guidance relating to certain mortgage servicing practices.  Specifically, the guidance addresses risks related to military homeowners who have informed their loan servicer that they have received Permanent Change of Station (PCS) orders and who might seek assistance with their mortgage loans.

    Posted By Sharon Bahr read more
  • Information from NCUA on Fair Lending Examinations

    Jun
    29
    Information from NCUA on Fair Lending Examinations

    Recently, CUNA Regulatory Advocacy staff had an opportunity to talk with National Credit Union's (NCUA) Kent Buckham and Moisette Sweat, top personnel in the agency’s Office of Consumer Protection (OCP), about fair lending examinations. 

    Questions/Answers on Fair Lending

    Posted By Sharon Bahr read more
  • NCUA Letter to Credit Union on Transition of ACH Services

    Jun
    29
    NCUA Letter to Credit Union on Transition of ACH Services

    The National Credit Union Administration (NCUA) issued a letter to credit unions to provide an update on the transition of US Central Bridge Corporate’s ACH services.  All other correspondent services offered by US Central Bridge have already been wound down, according to the letter.  The letter f

    Posted By Sharon Bahr read more
  • Vantage Offers Free Financial Seminar

    Jun
    29
    Vantage Offers Free Financial Seminar

    Vantage Credit Union (Bridgeton) is hosting a free Accel educational seminar on Understanding Credit. Credit, credit reports, budgeting and much more will be discussed.

    The seminar will be held Wednesday, July 18, 2012, from 6:00 to 8:00 p.m. and hosted at the Viking Hall Conference Center at 10709 Watson Road, St. Louis, MO 63127.

    Posted By Sharon Bahr read more

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