Links in “Credit Unions”

NCUA has announced that examiners will be assessing credit union’s ability to mitigate cybersecurity threats and to effectively respond to attacks. The Agency states that as credit unions have increased their use of online and mobile banking they have increased their risk for begin targets of cybercrimes. [5/13]

Don't forget to register for tomorrow's FREE DDoS webinar that will bring you up to speed on how these deceptive attacks are impacting credit unions.

Six democratic senators are now saying they will not support the housing reform bill in its current form. The senators claim that the proposed structure for a new mortgage reinsurance structure will not work and the bill does not go far enough in addressing affordable housing issues. [5/12]

NCUA approved only 53 mergers for the first quarter of 2014, which is significantly less than the 71 mergers approved during the first quarter of 2013 and the 62 mergers approved in the first quarter of 2012. However, in March eight of the mergers were due to poor financial condition, which is higher than the usual number for these types of mergers. [5/12]

Jim Blaine, outspoken CEO of State Employees’ Credit Union in Raleigh, NC, says that he may recommend that his board consider converting to a bank if certain aspects of the proposed risk-based capital rule are not changed.  Blaine states that the proposed rule gives an unfair advantage to banks and the result could be that the credit union might be able to better serve its members through a bank charter. [5/12]

On Cinco de Mayo, the NCUA announced the release of its Spanish-language version of the Share Insurance Estimator. [5/12]

From the best practice for displaying mortgage loan originator (MLO) unique identifiers to third-party MLO due diligence, is your institution compliant with the SAFE Act? Find out in this video, where Analyst Abner Rangel will describe the top five errors with SAFE Act compliance that he's observed from his reviews. [5/9]

From the best practice for displaying mortgage loan originator (MLO) unique identifiers to third-party MLO due diligence, is your institution compliant with the SAFE Act? Find out in this video, where Analyst Abner Rangel will describe the top five errors with SAFE Act compliance that he's observed from his reviews. [5/9]

The Governor of Colorado is poised to sign a bill that will create the first state-run financial cooperatives for the marijuana retail industry. The Mountain West Credit Union League has taken a neutral position on the legislation, however, they are concerned that there be clear disclosure that these cooperatives will not be federally insured. [5/9]

Senators Sherrod Brown and Jerry Moran are urging adoption of their Privacy Notice Modernization Act, which eliminates the requirement to send privacy notices on an annual basis. In exchange, credit unions and other financial institutions would have to make their privacy notices always available for their account holders. [5/9]