Links in “Credit Unions”

The NCUA is rescheduling a webinar entitled NCUA 2015:  Grant and Loan Opportunities that was originally scheduled to air this afternoon to Thursday, April 28^th at 2:00 pm EST. NCUA representatives will be discussing the grant process and four new grant initiatives that NCUA will be funding. [4/15/15]

The Wall Street Journal is reporting that Mastercard is ready to enter into a settlement with Target to recover costs that card issuers suffered from the retailer’s massive data breach.  Those familiar with the negotiations are reporting that the amount of the settlement could be in the $20 million range. [4/15/15]

Last night the House passed the Mortgage Choice Act, which clarifies the definition of points and fees for the qualified mortgage test in order to make loans more available to low and moderate income credit union members. [4/15/15]

A bill introduced in the Senate would require the NCUA to hold public hearings and get public comments on its annual operating budget.  Matz is opposed to the bill, stating that no other financial regulator is subject to similar requirements. [4/15/15]

If disaster struck your community right now, would your institution be ready? While no one wants to see the circumstances that would cause an institution to activate its business continuity and disaster recovery plan, the last time you would want to find out that yours is inadequate or hopelessly outdated is in an actual emergency. [4/13/15]

Before USBs came along, you had to power down your machine to plug in or unplug most devices. Now you can easily "hot swap," switch devices without missing a beat. The same type of mentality is coming to credit unions, where replacement credit cards due to breaches or theft happen almost immediately. Is your CU ready for the "hot swappable" mindset of your members? [4/14/15]

Credit union reserves are not capital. To improve capital ratios, credit unions have only one of the three strategies available to banks: shrink the balance sheet, a scorched earth strategy that hurts not only today but years into the future. [4/14/15]

Proposed rules on successors in interest, definition of delinquency, foreclosure notice issues and others are the subject of letters from CUNA and NAFCU to the CFPB on proposed changes to the mortgage servicing rules. [4/13/15]

Billions of dollars are transferred out of the country every year. But there is still quite a bit of bewilderment surrounding the roads of remittance transfers. AffirmX Senior Analysts Coppelia Padgett goes over the best way to navigate remittance transfers. [4/10/15]

More than 24% of the loans made by credit unions went to low- to moderate-income borrowers. That pool of $18 billion in loans is very attractive to banks seeking to bolster their performance under the Community Reinvestment Act. [4/10/15]