Links in “NAFCU”

A NAFCU webcast will be held on June 10, addressing "Critical Call Report Training." The webcast is for all credit union staff charged with providing their institutions' call reports to the NCUA and will address completing reports, avoiding common errors, etc. [6/2/15]

NAFCU's Carrie Hunt restated the organizations support for credit unions who work with the Small Business Administration. CUs help to provide loans to member small businesses, a letter stated in a hearing titled "Improving Capital Access Programs withing the SBA." [5/19/15]

A NAFCU Task Force has a number of recommendations for the NCUA to consider as it reviews the chartering process for federal credit unions, including removing geographic limitations on FOM chartering and expansion requests, setting deadlines for the NCUA to respond to FOM amendments, and removing the arbitrary 2.5 million population cap for well-defined local communities. [5/14/15]

At a hearing before the Senate Judiciary Committee, NAFCU testified that patent reform is vital in order to defeat the deceptive demand letters received by many credit unions from patent trolls. NAFCU and other financial trade associations are urging Congress to ease the cost and burden of patent litigation, require more details be provided in demand letters, and improve the post-patent review process.

That is the question that was addressed recently by the NAFCU Compliance blog.  Under the new integrated disclosure rules, there are specific requirements regarding when and how a credit union may have to provide a borrower with a refund of closing costs that exceeds the permitted tolerances. [4/23/15]

NAFCU CEO Dan Berger says that the request by the Food Marketing Institute to delay the October date for the EMV liability switch is a “smoke and mirrors” ploy designed to distract Congress from important data security issues.  The Institute claims that the requested delay is due to concerns about the costs for new technology and concern for longer lines for retail customers. [4/3/15]

NCUA Chair Debbie Matz told NAFCU CEO Dan Berger that the agency is looking for credit unions to exhibit reasonable and  good faith efforts to comply with the new TILA/RESPA combined disclosures that are effective August 1^st.  She added that the agency understands that credit unions may need time to do more extensive testing once their TILA/RESPA disclosure systems become fully operational. [3/27/15]

Protect your members from potentially fraudulent tax returns being filed in their names by sharing the information in today’s NAFCU Compliance Blog.  The blog alerts members to the fact that the IRS will never contact them by phone or other social media to obtain taxpayer information. [3/9/15]

A series of misleading ads about credit unions produced by the American Bankers Association made NAFCU CEO Dan Berger’s blood boil. In a letter he penned to Congress, Berger states that banks’ money would be much better spent on issues that help the financial community than on attacking credit unions that add $17 billion to the economy each year. [3/5/15]

NAFCU CEO Dan Berger wants NCUA to provide more details about the agency’s future plans to address the risks it perceives in the credit union system. Berger says credit unions need to know now how future initiatives in areas such as interest rate risk and emergency liquidity might impact their operations and bottom line. [2/24/15]