Links in “Credit Unions”
- NCUAâs Final Rule on Charitable Donation Accounts
AffirmX's Jane Pannier breaks down the final rule on charitable donation accounts. [1/13]
- NCUAâs OIG Points Finger at Board and Supervisory Committee for Embezzlement and Fraud at G.I.C. FCU
In a report issued by NCUAâs Office of Inspector General, the Board of Directors and supervisory committee members, along with NCUA examiners, have been taken to task for the failure to supervise, exercise responsibilities, and complete audits for three consecutive years. These factors led to a charge of embezzlement for $2 million against the former assistant manager and an estimated $7 million loss to the NCUSIF as a result of the failure of the $15 million G.I.C. FCU in Cleveland. [1/10]
- Cordray Praises Credit Unions on âThe Daily Showâ
CFPB Direct Richard Cordray sang the praises of credit unions on Wednesdayâs âThe Daily Show with Jon Stewart.â Cordray cited credit unionsâ and community banksâ history of a common sense approach to mortgage lending as the model that the new mortgage regulations are designed to impose on the entire industry. [1/10]
- McWatters Nomination Sent to Senate
The Senate Banking Committee will now begin vetting the nomination of Mark McWatters to the NCUA Board. This is a preliminary step to a confirmation vote by the full Senate. [1/9]
- 11th Hour Resources for Addressing New Mortgage Rules
NAFCU's compliance blog today lists a number of resources available to help financial institutions scrambling to meet tomorrow's implementation date. [1/9]
- NCUA Offers New Share Insurance Estimator and Free Webinar on Examination Modernization
The redesigned share insurance calculation tool that offers expanded content is now available at MyCreditUnion.gov. NCUA is sponsoring a free webinar on the changes to its examination process on January 22nd at 2:00 pm EST. [1/8]
- NCUA Issues Regulatory Alert on Homeownership Counseling and HOEPA Loans
NCUA has issued Regulatory Alert 14-RA-02 to provide information and guidance regarding the new homeownership counseling requirements for both open-end and closed-end mortgage loans and on changes to the scope of loans that are subject to the requirements for HOEPA loans. [1/8]
- Lessons from the Target Data Breach for Your Credit Union
NAFCU takes a look at what steps a credit union may wish to consider in response to the massive data security breach reported by Target. [1/8]
- Auto Loans Are Back!
The trends show that 2013 was the strongest year for auto sales since 2007 and the expectations for 2014 are even higher. New auto loan growth is outpacing used auto loan growth, which means higher average loan balances. [1/7]
- Prospective NCUA Board Member Supported Reduction in Regulatory Burden
Mark McWatters, a member of the TARP Congressional Oversight Panel and President Obamaâs choice for the NCUA Board, endorsed reducing the tax and regulatory burden on financial institutions and small businesses as a means to encourage economic recovery. On the other hand, McWatters opposed the creation of the Small Business Lending Fund stating that providing financial institutions with below-market capital could encourage poor lending practices. [1/7]
