Links in “Credit Unions”
- Lessons Can Be Learned from Insider Fraud
The CU Times has reported on 35 cases of fraud in the past year with 75% of those cases involving credit union insiders. Here are summaries of the top 7 schemes from 2013 in which more than $40 million was stolen. [12/10]
- NCUA Issues Supervisory Guidance on Private Student Loans
NCUA has issued Supervisory Letter 13-CU-15 to provide guidance to its field staff about examining private student loans. The letter identifies the benefits of private student loans and also identifies the risks associated with this specialized type of lending. If you offer private student loans or are thinking about offering private student loans, this letter provides valuable insight into how these programs will be reviewed. [12/10]
- Are Small Institutions Going the Way of the Do-Do Bird?
Credit Union Times executive editor submits reasons she believes small institutions are heading into oblivion. [12/10]
- Where Are All the Homes for Sale?
A look at what is keeping home inventory from returning to pre-recession levels. [12/10]
- Is the State-Chartering Model More Cooperative Than the Federal Model?
Chip Filson of Callahan & Associates makes the case that the state-chartering model offers a better cooperative model than we see at the federal model. Filson cites recent CUA actions with the actions of the Ohio Credit Union Council in which all credit union issues are reported and discussed in a public forum. [12/9]
- Suncoast Schools FFCUâs Members Approve Charter Change
The 500,000+ members of $5.5 billion Suncoast Schools FCU have voted to change from a federally chartered credit union to a state-chartered credit union. CEO Tom Dorety says that converting to a state-chartered credit union will enable them to move forward with a community charter for the counties on the west coast of Florida where they already are serving members. [12/9]
- Consumer Overdrafts Up in Q3
Report finds lenders took in an annualized overdraft income of $31.8 billion in Q3, up 1.6% from previous quarter; average overdraft fees held steady, but the average number of times the customer overdrew account grew to 7.1 times annually. [12/9]
- How the New CUSO Rules Apply to CUSO Subsidiaries
A look at this aspect of the new rule adopted by the NCUA for credit union service organizations. [12/6]
- Industry-wide Support for Patent Troll Bill
House passes bipartisan legislation supported by banks and credit unions that would restrain "patent trolls," non-practicing entities that bring abusive patent litigation against financial institutions and other businesses.
- NCUA December Board Meeting to Include Final Rule on Charitable Donation Accounts
The final rule to be reviewed at the Dec. 15Â board meeting sets the terms for charitable donation accounts, including limiting the aggregate investments for charitable donation accounts (CDAs) to 3% of the credit unionâs net worth. At least 51% of the total return from the account must be distributed to one or more charities at least once every five years. [12/6]
