Links in “CUNA”

Tom Dorety, CEO of Suncoast Schools and Chairman of CUNA’s System Structure and Governance Task Force, provides more details behind the task force’s recommendation to rename CUNA to America’s Credit Unions and other restructuring moves. Dorety cites the shrinking number of credit unions, size differences among credit unions, and a lack of visible success on the part of the leagues as motivating factors. [5/8/15]

A lot, apparently.  CUNA announced a major rebranding campaign that could result in a name change to America’s Credit Unions. In addition, the association is looking at a number of structural changes that could include permitting credit unions to join just the national association without having to join the state league, and reducing the size of the CUNA board. [5/7/15]

After pleading guilty to six-figure fraud schemes, the two former credit union employees were banned from federally-insured financial institutions by the CNUA. The two were also ordered to pay six-figure restitution fees. [5/1/15]

CUNA is using its grass roots action network to call out the troops (CU employees, volunteers and members) to contact their Senators and urge support for the Data Security Act of 2015.  This bill would impose stronger security standards on merchants and mandate that merchants notify consumers when a breach has occurred. [4/23/15]

CUNA has reiterated in the comment letter it submitted to NCUA that RBC2 is unnecessary and should be withdrawn. CUNA asserts that NCUA has no legal authority to establish a two-tiered RBC structure, and that there is no evidence that had RBC2 been in place prior to the financial crisis that the losses would have been less. CUNA also offers additional recommendations for revisions to the proposed rule. [4/20/15]

CUNA, who just joined the offense against Home Depot, is encouraging credit unions to join the class action suit before the deadline. Parties must be identified and evaluated within the next two weeks. [4/17/15]

CUNA agreed to join financial institutions plaintiffs nationwide in the lawsuit against Home Depot's huge data breach last fall. "We stand with our credit union members and believe consumers must be protected from merchant negligence."  [4/16/15]

Proposed rules on successors in interest, definition of delinquency, foreclosure notice issues and others are the subject of letters from CUNA and NAFCU to the CFPB on proposed changes to the mortgage servicing rules. [4/13/15]

In response to a FOIA request, the NCUA finally releases a September 2013 white paper on the National Credit Union Share Insurance Fund. The paper recommends increasing the equity ratio far beyond current limits. That proposal is "really bad news," according to CUNA. [4/8/15]

CUNA economists predict that rising interest rates in 2015 and 2016 will lead to higher earnings, improved asset quality, and increasing capital.  New auto loans, purchase money mortgages, and credit cards are expected to show very strong growth. [4/1/15]