Links in “Credit Unions”
- Six Credit Unions Fail TARP Reporting Requirement
Six credit unions that received TARP funds from the Community Development Capital Initiative (CDCI), but have never filed their annual report about how the funds were used. To date, the Treasury Department has not enforced the rule against the 69 banks and credit unions that remain in the program. [5/2]
- NCUA Gives Five Prohibition Orders
Recently, the NCUA has handed out orders prohibiting five individuals from involving themselves in the affairs and business of any federally insured financial institution. [5/1]
- Credit Unions May Benefit from Proposed QM Rule Change
Minor adjustments proposed to the Qualified Mortgage Rule could benefit credit unions. The proposal changes would allow lenders to refund points and fees in excess of the 3% cap if the refund is made within 120 days, thus allowing the credit union to avoid adverse consequences for inadvertent mistakes. [5/1]
- Housing Reform in Limbo
The Senate Banking Committeeâs decision to defer a vote on the unwinding of FNMA and FHLMC has created some uncertainty about the future of housing reform. Committee members have indicated that there are looking for more consensus on some issues before bringing the bill to a vote. [5/1]
- Do You Have a Winning Member Business Service Program?
Approximately 2,300 credit unions now offer member business services or business lending. However, Jim Devine, an instructor at the CUES Business Lending School, says many of these credit unions need to take a step back and look at the value proposition they are offering to their business members and take measures to better protect themselves against interest risk. [4/30]
- Senate Banking Committee Approves McWatters Nomination
The Senate Banking Committee voted yesterday to move the nomination of Mark McWatters for a seat on the NCUA Board to the full Senate for a final vote. The Committee also approved the nominations of three individuals to the Federal Reserve Board. [4/30]
- Is CFPB’s Student Loan Report Merely Laying the Groundwork for Future Rulemaking?
CFPB's report on student loan complaints, particularly what happens when a co-signer dies or becomes insolvent, was soft on some key details, but appeared to be geared toward laying the groundwork for future rulemaking. [4/30]
- Silence about Cyberattacks May Be the Real Risk
An overwhelming majority of respondents to a recent survey of IT security professionals states that exchanging threat intelligence could have prevented cyberattacks. The traditional means of sharing information is just not sufficient today. [4/29]
- Motley Foolâs Advice: âJoin a Credit Unionâ
Stock advisors Motley Fool says if youâre not happy with your bank, join a credit union. They cite five benefits of credit union membership: no nickel and diming, great rates, âpeople helping people,â flexibility, and simplification. [4/29]
- Middle Class Living Paycheck-to-Paycheck
Long a condition that applied primarily to the lower income class, a majority of middle class consumers now report they live paycheck-to-paycheck. While they have decent salaries and most own their homes, what they donât have is much money in savings or ready access to funds. [4/28]
