Links in “Credit Unions”
- Indictments in Massive Card Theft Scheme
Five Russian and Ukrainian hackers were able to steal more than 160 million credit and debit card numbers; the theft, which affected many credit union members, resulted in losses in excess of $300 million. [7/26]
- NCUA Assesses Lower-than-Expected Corporate Fee for 2013
NCUA Board approves a .08% assessment fee for federally insured credit unions for 2013; this lower-than-anticipated amount is the lowest assessment since 2009. [7/26]
- Top 3 Compliance Problems in Loan Apps
Mortgage servicing company cites incomplete borrower information (such as no HMDA data, and missing signatures), errors in initial disclosures of the Truth in Lending and Good Faith Estimate, and missing or improperly prepared FHA docs. [7/26]
- CFPB Warns Against Deceptive Claims in Communications with Delinquent Borrowers
CFPB expresses "significant concern" with potentially deceptive claims made in communications with consumers concerning the effect of paying debts in collection on credit reports, credit scores, and creditworthiness. [7/25]
- âFreeâ May Mean Having to Say Youâre Sorry
Consumers are sorry to the tune of $14.3 billion in âgrayâ charges according to a recent survey. CFPB looking into âgrayâ charges, charges that occur when a free subscription (i.e.magazines. Amazon, etc.) period ends and the company automatically begins charging the full subscription rate, which the consumers may not realize before racking up charges they may not be able to afford.
- Floor Vote on Fannie Mae and Freddie Mac
A bill that would eliminate Fannie Mae and Freddie Mac faces a floor vote today in the House; passage uncertain due to a provision that would lower the limit for conforming mortgage loans. [7/25]
- Harland Financial Solutions Being Sold to Canadian Company
Hundreds of credit union UltraData users will be affected by a pending sale of their core operating system, along with the Mortgagebot and LaserPro divisions, to a Toronto company, Davis+Henderson Corporation; sale expected to close mid-August. [7/24]
- NCUA Announces One-Stop Shop for High-Res Graphics and Other Downloadables
Website now offers NCUA labels, logos, insurance brochures and signs that CUs may use on their own websites and social media channels. [7/24]
- Escrow Rules of Biggert-Waters May Surprise Some Small Lenders
Starting next July, lenders will have to comply with the new escrow requirement not only for new flood loans originated after the effective date of the rule, but also for any active flood loans already on the books. [7/24]
- July NCUA Report Released
July Report covers NCUA Highlights and Insights. [7/23]
