Links in “Credit Unions”

The Small Business Regulatory Flexibility Act, which is slated for House action today, would ensure that small entities, including small credit unions, have more information about how regulations will affect them and more opportunity to impact the rulemaking process. [2/5/15]

It passed the House in 2013, but never made it to the Senate. Now the Mortgage Choice Act has been reintroduced in the Senate. The act would, among other things, exclude the amount of any loan level payment adjustment payment from the definition of points and fees for qualified mortgages. [2/4/15]

Alternate payment system options are expanding rapidly. You need to consider how systems like Bitcoin and MCX/CurrentC may affect your debit card products. [2/4/15]

According to a report issued by NCUA’s Inspector General the mobile devices, including iPhones, supplied by NCUA to its staff and contractors are not adequately secured to protect data and resources. [2/4/15]

President Obama’s proposed fiscal-year 2016 budget would increase the CDFI funding from $230 million to $233.5 million and would maintain the NCUA Community Development Revolving Loan Fund at $2 million. The borrowing authority for the NCUA Central Liquidity Fund would be set at $5.1 billion. [2/3/15]

Every credit union has a significant amount of information about its members that can be used to build stronger member relationships and improve member service. Effective use of data mining and your onboarding systems along with your existing technology can produce valuable results. [2/3/15]

In a series of releases and footnotes to the January 15 board meeting minutes, NCUA Chair Debbie Matz and Board member Mark McWatters have accused each other of revealing confidential information from a legal opinion the agency obtained concerning its statutory authority for setting risk-based capital standards. McWatters voted against the revised RBC proposed rule. [2/2/15]

NCUA has liquidated $4.2 million American Bakery Workers FCU. $1.6 billion TruMark Financial Credit Union has assumed the credit union’s members, deposits, and most of the loan portfolio. [2/2/15]

NCUA approved 19 mergers in December, which brings the total number of mergers for 2014 to 262, an 8% increase over 2013. If the trend continues it means there may only be 5,400 credit unions by 2018 and just 4,260 by 2023. [2/2/15]

Sometimes the best way to figure out how to make the perfect policy is by hearing what elements contribute to a bad one. Join AffirmX Analyst Quinton Harrison as he describes the four types of flawed policies we see. [1/29/15]