Links in “Credit Unions”

Witnesses in a House Financial Services subcommittee hearing had praise for the bipartisan, NAFCU backed bit. The act is sponsored by Reps. Mick Mulvaney, R-S.C., and Krysten Sinema, D-Ariz. [6/12/15]

A House appropriations bill would prohibit HUD from using funds to enforce the “disparate impact” concept in providing housing services. Industry leaders are pushing for the elimination of the use of the “disparate impact” test where lenders, landlords, and housing cooperatives have not demonstrated any intent to discriminate. A case addressing this issue is pending before the Supreme Court. [6/11/15]

Has your credit union been struggling to get members to go paperless and adopt electronic statements? This article provides strategies and best practices to move your members away from their paper dependence. [6/11/15]

According to a white paper just issued by the NAFCU, the NCUA could have approved more than  100 credit unions for an exemption from the MBL lending cap between 2010 and 2014 if it had applied a more liberal interpretation to the statutory exemption for credit unions with a history of making member business loans. The NAFCU states that the NCUA could have interpreted this section of the law to include credit unions that have had a successful MBL program in place for at least five years. [6/11/15]

Security experts are scratching their heads over the Office of Personnel Management’s decision to notify current and former federal government workers by email that they may have been victims of the recent data breach. Experts are concerned that the emails could be leaked publicly and copied by phishers. Employees that do not have email addresses will receive written notifications by mail. [6/11/15]

Six federal regulators, including the NCUA, have issued a final interagency statement establishing standards for financial institutions to follow in creating diversity policies and practices—all of which will by voluntary. The statement is meant to comply with Dodd-Frank, and will impact all financial institutions with more than 100 employees. [6/10/15]

The NAFCU and 17 other trade groups joined together in urging the House Financial Services Committee to pass a reasonable hold-harmless period for financial institutions implementing the CFPB's TILA/RESPA integrated mortgage disclosures rule. [6/10/15]

Several current and former NCUA employees are thought to be victims of the large data breach of the Office of Personnel Management. The breach of OPM computers was reported last week, but dates back to April. Sensitive data of at least 4 million may have been affected. [6/10/15

Apple continues to lead the industry with with its electronic Apple Pay system, which will soon surpass 1 million supported locations. The system will begin allowing private-label, retailer cards on the system, which are most popular with consumers. [6/9/15]

Demographic changes have driven adaptation in credit union leadership, significantly shown by the higher-than-ever cost of hiring a new president/CEO.  [6/9/15]