Links in “Credit Unions”
- How Efficient Is Your Credit Union?
Sometimes efficiency ratios only tell part of the story; here are four truths about efficiency that also need to be considered. [9/3]
- Can We Send Out a Change Terms Notice on Time Deposits en Masse?
With interest rates edging up, more banks are seeking to increase their early withdrawal penalties, but there are wrong ways and right ways of handling the notification. [9/3]
- Credit Unions Show Increased Earnings in Q2
Increased fee income and reduced losses has resulted in a strong 2nd quarter for credit unions, which made $613 billion in loans during the quarter, an increase of almost $14 billion over the previous quarter. CU membership has also increased to 95.2 million. [8/30]
- CUNA and NAFCU Submit Brief Opposing an Interim Debit Card Rule
CUNA, NAFCU and other coalition partners have submitted a brief that opposes requiring the Federal Reserve Board to issue an Interim Final Rule that would reduce the interchange fee cap for debit card transactions while the District Court ruling is being appealed; group argues that an interim rule could cause significant harm to the industry and could be overturned by the Appellate Court. [8/29]
- Federal Agencies Issue a Second Proposed Interagency Rule on QRMs
Although proposed rule issued by the FDIC, FHFA, FRB, Dept. of Housing and Development, SEC and the OCC does not directly affect credit unions, as participants in the mortgage market place they would likely feel the impact; proposed rule would make the definition of a âqualified residential mortgageâ consistent with the CFPBâs definition of a âqualified mortgage.â [8/29]
- Disparate Impact Case Proceeds in Supreme Court
Township of Mount Holly files its opening brief in the U.S. Supreme Court; at stake is whether disparate impact claims or only "purposeful discrimination" are cognizable under the Fair Housing Act. [8/29]
- Former NCUA Chair to Present Webinar on Meeting Rising Compliance Challenges
Webinar to include presentations from former NCUA chairman Dennis Dollar on the upcoming risk-based capital proposal, as well as presentations on upcoming significant rule changes and options for compliance for credit unions with limited resources; webinar is free. [8/28]
- NCUA Wins Favorable Ruling in Investment Lawsuit
A U.S. Circuit Court has handed NCUA a victory in its suit against several Wall Street banks for toxic securities they sold to U.S. Central and other corporate credit unions; the appeal, which hinged on an interpretation of a federal statute of limitation clause, clears the way for NCUA to proceed in its lawsuits that allege violations of federal and state securities law. [8/28]
- NCUA Reports 23 Mergers in July
Credit unions continue to escalate; NCUA reports that most of the mergers were sought for the opportunity to expand services to new members. [8/28]
- Indirect Lending May Not Be a Win/Win Situation
Although indirect lending may offer convenience to your members and access to more loans for your credit union, the downside may outweigh the benefits; this report suggests that indirect loans can be very costly to the CU, and only a small percentage of the new members gained through the indirect channel become long-term users of your CUâs services. [8/27]
