Links in “CUNA”
- CUNA Urges Forward-Thinking FOM Changes
According to CUNA, the NCUA needs to take an innovative approach to the FOM rules in order to better reflect how todayâs members live, work, and play. CUNA is recommending a 3-prong approach that includes, among other items, recommendations that would streamline the approval process, allow merging credit unions to retain both FOMs, eliminate the population cap on local communities, and expand the definition of community and TIP charters. [6/16/15]
- CUNA Urges Changes for CFPB HMDA Before Final Rule
CUNA is urging the exemption of credit unions from certain new Home Mortgage Disclosure Act (HMDA) Regulation C data reporting requirements. Concerns come from "particularly burdensome and prohibitive consequences on credit unions and their members." [6/12/15]
- Twelve New Regulatory Relief Bills to be Discussed: Six Backed by CUNA
Twelve bills aimed at providing regulatory relief to financial institutions are to be discussed by the House Committee on Financial Services this Thursday. Six of those bills are backed by CUNA. [6/9/15]
- Record-Breaking $1 Trillion Reached in Credit Union Member Savings
A new report from CUNA Mutual Group states that credit union member hold more than $1 trillion in savings. Credit union members had just over $1 trillion in their savings accounts in March 2015, which could be credited to an annual trend that has seen savings rise in March as members receive tax refunds and employment bonuses from the previous year. [6/2/15]
- Credit Unions and Trades Sue Home Depot for Data Breach
A consolidated class action suit involving 37 credit unions, 16 state leagues, CUNA and 11 banks has been filed in federal court in Atlanta, Georgia against Home Depot for its massive data breach that affected 56 million consumers, cost billions in fraud losses and more than $150 million is card reissue expenses. The lawsuit also alleges that Home Depotâs data security measures are still inadequate, a claim that Home Depot adamantly denies. [5/29/15]
- Shelby Reg. Relief Bill Due for Markup Today
As Sen. Richard Shelby's (R-Ala.) regulatory relief bill is scheduled to be marked up by the Senate Banking Committee today, CUNA, and other leagues are advocating negotiation. [5/21/15]
- CUNA: Should the Fed Raise Interest Rates?
"By maintaining near-zero interest rates, is the Federal Reserve helping or hampering the economy?" That was the question used for an hour long debate between two CUNA economists. What would be best for your financial institution? [5/21/15]
- Bipartisan Reg. Relief Action Urged by CUNA, Bankers
A letter asking for bipartisan agreement and congressional action for regulatory relief was sent by credit unions and bankers alike to the U.S. Senate Banking Committee. CUNA, ABA, and the Independent Community Bankers of America highlighted the high amount of financial institutions struggling with growing regulatory burden, and other issues. [5/18/15]
- Judge Extends Home Depot Suit Deadline
Credit unions now have until May 27th to join a class action suit against Home Depot for recovery of costs related to the massive data breach in September 2014. CUNA noted that Home Depot continues to use inferior systems and procedures that could expose consumers to future risk. [5/15/15]
- CUNA Expresses Concerns About Reg. D Transaction Limitations
CUNA has sent a letter to the Federal Reserve Board, the FDIC, and the OCC in which it states that the transaction limitations on savings accounts have outlived their initial policy purposes and adversely affect credit unionsâ ability to serve their members. In addition, CUNA expresses concerns about proposed changes to Reg. CC that could pose challenges for RDC transactions. [5/14/15]
