Links in “Credit Unions”
- NCUA Announces New Regional Structure for 2014
NCUA will be shifting nine states to different regions for supervision purposes beginning in 2014; many states were realigned several years ago in order to better allocate supervisory resources, but now that the economy is on stronger footing, NCUA is realigning to a more geographically cohesive regional structure. [7/18]
- Credit Unions Score Big Among Consumers in Recent Poll
Recent poll by GBankingRates.com showed that CUs are the runaway first choice by financially savvy consumers, with more than 73% of the respondents choosing credit unions as their preferred financial institution, compared to community banks, who received the next highest rating at 14%. [7/18]
- Banking Industry Cries Foul on Simultaneous Associational Common Bond
ABA's economist decries practice of some credit unions allowing consumers to simultaneously join an association to become a member of a credit union as an overreach of the "meaningful affinity and bond among members" rules. [7/18]
- DOMA Decision Leaves CUs in the Dark Over IRA Rules
The recent Supreme Court decisions on the Defense of Marriage Act (DOMA) and the California Prop 8 cases have left little guidance for credit unions that offer IRA accounts; under the current IRA rules, spouses enjoy special benefits, but it is not clear whether those benefits can now be applied to same-sex couples. [7/17]
- Cordray Confirmed as CFPB Director
Yesterday, the Senate Banking Committee confirmed Richard Cordray as Director of the CFPB; Cordrayâs 5-year term ends in 2018. [7/17]
- Proper Language in Your Documents Can Make or Break a Member Lawsuit
The case studies presented in this article demonstrate the importance of having specific language in your loan and account documents that reflects current state and federal law. [7/16]
- NCUA Board Nomination Up for Vote Today
The Senate Banking Committee is scheduled to vote today on the nomination of Richard Metsger for the NCUA Board; other monetary policies will be addressed by both House and Senate Committees later this week. [7/16]
- NCUA Liquidates Ohio CU
Lithuanian Credit Union of Cleveland, Ohio, founded in 1984 and with $24 million in assets, become the 11th CU liquidated in 2013. [7/16]
- Fighting Mobile Check Deposit Fraud Without Killing Mobile Check Deposits
How banks are fighting against scammers who seek to deposit a single check multiple times at different institutions without throttling customer convenience. [7/16]
- Fraudsters Posing as “Forgetful” Callers to Call Centers
Hot new identity thievery: callers to bank customer service centers who give just enough information to authenticate themselves, then start asking for information they have "forgotten" and keep dialing the call center until they have enough information to open a new account somewhere else. [7/16]
