Links in “Credit Unions”
- NACHA Proposes Changes to Reduce ACH Exceptions
NACHA has issued two proposals that aim to reduce ACH exceptions and provide incentives to improve origination quality. NACHA claims that the proposed changes will improve its ability to identify and enforce rules against ACH âoutliersâ and provide partial cost recovery to receiving depository financial institutions. [11/14]
- CBO Takes Aim at Both Large Credit Unions and Subchapter S Banks
The Congressional Budget Office (CBO) has identified taxing large credit unions as thrift institutions as one of a number of revenue options in its report to the House-Senate Budget Conference Committee. At the same time, the CBO has also identified treating large pass-through entities as C corporations, which would affect many subchapter S banks. [11/14]
- NCUA Issues Enterprise Risk Management Guidance
NCUA has issued Letter to Credit Unions 13-CU-12 regarding supervisory guidance on enterprise risk management. While only corporate credit unions are required to have formal risk management programs, examiners will assess each credit unionâs overall risk management process. This letter provides insight into the examinersâ expectations. [11/13]
- House Committee Looks at Bill to Expand Share Insurance Coverage
The House Financial Services Committee is working on a bill to amend the Federal Credit Union Act to permit share insurance coverage for funds held in a member account on behalf of another person or persons. In particular, this amendment would allow credit unions to attract IOLTA accounts, which are accounts set up by lawyers to hold client funds. [11/13]
- World Council of Credit Unions Provide Assistance to Credit Unions in Philippines
The World Council of Credit Unions is raising funds for the 1,320 credit unions in the Philippines so that they can provide aid to their members in need. Contributions can be made by wire, credit card or check or online through a link in this article. [11/13]
- “The Cabalist” and Four Other Types of Board Members to Avoid
Try to avoid letting these five types of unproductive or counterproductive directors on your CU's board. [11/12]
- 45 States Show Net Losses of Bank Branches
Net loss of 1,343 branches since Oct. 1, 2012. Pennsylvania leads the decline with 106 branches shuttered. [11/12]
- Malicious Email Traffickers No. 1 Target: Customers of Financial Service Providers
Consumers remain 7 times more likely to become a victim of a cyberattack via "their bank" versus any other sector. [11/12]
- Site Lists 15 CUs Established to Serve Military Members
On Veterans Day, site updates its list of 15 credit unions with fields of memberships that include various military groups, from the $54 billion Navy FCU to the $31 million credit union established to primarily serve the Naval Air Station Joint Reserve Base in New Orleans. [11/12]
- Recipe for Disaster: Selecting Appraiser Based on Lowest Fee
OCC guidance cautions that appraiser selection based on lowest fee is a "recipe for disaster." Three critical factors are appraiser's knowledge of property type, knowledge of neighborhood, and record of performance. [11/12]
