Links in “Credit Unions”

NCUA’s Chief Financial Officer announced that the fund had an equity ratio of 1.31% as of the end of September, so there is no need for an assessment to federally insured credit unions for 2013. She also reported that the number of CAMEL 3, 4 and 5 credit unions has declined. [10/25]

New items from recent meetings held by NCUA Board included focus on liquidity with standards placed for all CUs depending on asset size. Anticipate an increased focus on liquidity practices in 2014. [10/25]

Your employees probably spend hours each week attempting to explain the workings of credit scores to confused or concerned members. This article provides useful information that demystifies some of the credit scoring process and provides insight into actions that may hurt your credit score and tips on how to improve your credit score. [10/24]

NCUA and the other federal regulators have issued a statement that creditors offering only qualified mortgages will not be in violation of the Equal Credit Opportunity Act and Regulation B. The statement was issued in response to creditor concerns that limiting loan offerings to just qualified mortgages could violate the disparate impact doctrine. [10/23]

If you want to improve your bottom line and strengthen your relationship with your members, there are five areas of financial innovation you should keep your eye on. [10/23]

We’re fast approaching the January 2014 implementation date for a host of new mortgage regulatory requirements. This article identifies the top five issues you need to focus on to ensure you’re in compliance. [10/23]

Chip Filson of Callahan and Associates says the recent government standoff and the inability of Congress to agree on courses of action could signal future challenges for credit unions. The dismantling of the Central Liquidity Fund and new regulations that limit the activities of corporate credit unions require credit unions to place increasing reliance on banks and the government as sources of liquidity. [10/22]

Alex Spirikaitis, the former CEO of Taupa Lithuanian Credit Union, was finally captured yesterday by the FBI in Cleveland, where the credit union was located. The FBI reported that Spirikaitis, who has been charged with making false credit union entries that led to the collapse of the $23.6 million credit union, had significantly altered his appearance to avoid detection. [10/22]

Trade groups file "friend of the court" brief over the Federal Reserve's interchange rule, especially against the judge's ruling that the fee cap should be lowered, which the groups argue would cut billions from interchange fee revenues. [10/22/13]

A recent CUNA survey showed that about 60% of the respondents will likely offer fewer mortgage options as a result of the new mortgage regulations scheduled to go into effect in January 2014. About half of the credit unions surveyed indicated that they are undecided about whether they will offer mortgages that do not meet the definition of a “qualified mortgage.” Consumers could be the ultimate losers. [10/21]