Links in “Credit Unions”

NAFCU and CUNA have requested that the 90-day comment period for the proposed risk-based capital rule be extended to 180 days. Calling it the most proposed rule that credit unions will face this year or in years to come, the trades stated that credit unions need to have sufficient time for careful and thorough consideration. [3/3]

The NCUA's latest installment on the economy and impact on credit unions is available at the NCUA's YouTube channel. Key items of focus include forecast rise in longer-term interest rates as economic growth improves. [3/3]

The 4,400 attendees at this year’s CUNA GAC conference in Washington, D.C. spent this week paying visits to their Congressional representatives to educate them on the issues of most importance to the credit union industry.  The key issues discussed were taxation, member business lending, housing finance reform, data security and credit union charter enhancements along with issues of importance in particular states. [2/28]

The second in a series of posts on risk-based capital takes a look at risk weights. [2/28]

That’s the recommendation of the House Ways and Means Committee. The Committee has released a draft of a new tax reform bill that does not include any changes to the credit union tax exemption nor does it add a unrelated business income tax. [2/27]

Much has been written about the technical requirements under the CFPB’s new Ability to Repay rule. However, until now, very little has been written about a financial institution’s liability exposure for violating the rule. This article provides eye-opening information. [2/27]

Site is devoted to helping credit unions prepare to deal with cyber threats. [2/26]

The Internet Corporation for Names and Numbers (ICANN) has notifed CUNA that the domain name .creditunion (dot credit union) has been approved. CUNA General Counsel Eric Richards notes that the new domain is beneficial as both a marketing tool, as well as a tool to improve security. [2/26]

Congressman Darrell Issa from California confirmed yesterday that NCUA received over $1 billion from its settlement with JPMorgan to recover corporate credit union losses. Another big winner was the law firm that represented the agency that received almost $350 million as its contingency payment. [2/26]

According to NAFCU CEO Dan Berger, NCUA’s proposed risk-based capital rule could put healthy credit unions out of business. Berger states that under the proposed rule some credit unions would be required to shoulder a disproportionate share of the burden. [2/25]