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  • CFPB proposes 2,000-loan limit for QM 'small creditors' (Friday, January 30, 2015)
    CFPB on Thursday proposed significant changes to the small creditor exemption requirements in its ability-to-repay/qualified mortgage regulation, suggesting an increase in the total-loan threshold from 500 to 2,000 and factoring mortgage affiliates into the asset threshold of $2 billion.
  • NAFCU, trades press Congress for patent reforms (Friday, January 30, 2015)
    NAFCU, with other financial trade organizations, laid out principles for patent reform to address the issue of demand letters and deceptive patent troll behavior in a letter to all members of the House and Senate on Wednesday.
  • NCUA webinar Feb. 18 on underserved market (Friday, January 30, 2015)
    NCUA is hosting a free webinar, “Opportunities in the Underserved Market,” at 2 p.m. Eastern Feb. 18 for credit unions interested in expanding their products and services to unbanked markets.
  • FBI: Email scams cost businesses $215M (Friday, January 30, 2015)
    FBI recently noted that cyber thieves stole close to $215 million from businesses over the last 14 months in a scam that begins with hacking a business executive's or employee's email account.
  • Moody's: 45,000 more home sales from lower FHA premiums (Friday, January 30, 2015)
    A new Moody's Analytics report suggests that there will be 45,000 additional new- and existing-home sales in 2015 as a result of the Federal Housing Administration's decision to reduce annual mortgage insurance premiums from 1.35 percent to 0.85 percent.
  • CFPB highlights CUs in message on financial education (Friday, January 30, 2015)
    CFPB Director Richard Cordray announced a partnership with Financial Services Roundtable on an initiative to provide more financial education to consumers, noting credit union efforts to reach out to students.
  • 750 banks and CUs have joined Apple Pay (Friday, January 30, 2015)
    Apple CEO Tim Cook says 750 banks and credit unions have now joined Apple Pay, the new contactless payment service.
  • Student-loan repayment guide out on graduated repayment (Friday, January 30, 2015)
    The State Liaison Committee of the Federal Financial Institutions Examination Council issued guidance Thursday for financial institutions on how to offer private student loan borrowers graduated repayment terms at origination.
  • Nealon details IOLTA status in Compliance Blog (Friday, January 30, 2015)
    Credit unions are clear to offer Interest on Lawyer Trust Accounts (IOLTAs) with federal share insurance under NAFCU-sought legislation enacted last month, but the law's impact on other, similar accounts is still being reviewed by NCUA, NAFCU Director of Regulatory Affairs Alicia Nealon says.
  • NAFCU welcomes new privacy notice bill (Thursday, January 29, 2015)
    NAFCU Associate Director of Legislative Affairs Chad Adams welcomed the introduction Wednesday of H.R. 601, the "Eliminate Privacy Notice Confusion Act," by Reps. Blaine Luetkemeyer, R-Mo., and Brad Sherman, D-Calif., to ease statutory privacy notice requirements.
  • NCUA: AEA FCU improving in conservatorship (Thursday, January 29, 2015)
    NCUA reported that AEA Federal Credit Union, of Yuma, Ariz., has improved its financial performance while under NCUA conservatorship for the past four years. It gave no indication of an end date for conservatorship.
  • CFPB seeks 'Student Account Scorecard' input (Thursday, January 29, 2015)
    CFPB is seeking feedback from students, parents, higher education and financial institutions on a draft program called the "Safe Student Account Scorecard," which would guide universities in the area of financial accounts for students.
  • CFPB details treatment of confidential supervisory info (Thursday, January 29, 2015)
    CFPB issued a supervisory bulletin Wednesday highlighting existing regulation on what information counts as confidential supervisory information (CSI) and how depository institutions must treat it under the Dodd-Frank Act.
  • Fed keeps current course, no rate change yet (Thursday, January 29, 2015)
    The Federal Open Market Committee announced no changes in monetary policy activities or in the federal funds target rate – currently set at a range of 0 to 0.25 percent –at the close of its two-day meeting Wednesday.
  • Hearing witnesses warn against 'strict' breach notification (Thursday, January 29, 2015)
    Hearing witnesses told the Senate Homeland Security Committee yesterday that they support data breach notification but urged against setting a strict timeline for it.
  • CUs updated on fraud risks, FFIEC cybersecurity findings (Thursday, January 29, 2015)
    Randy Romes of Clifton, Larson & Allen LLP discussed the latest cyber-fraud trends and how credit unions can apply findings of the Federal Financial Institutions Examination Council’s cybersecurity assessment to their own risk management programs during NAFCU’s webcast Wednesday.
  • Upgrades to NAFCU website database complete (Thursday, January 29, 2015)

    NAFCU performed upgrades to its database this morning, temporarily rendering website logins inoperable. These upgrades are completed.

  • Consumer confidence at highest level since 2007 (Wednesday, January 28, 2015)
    Consumer confidence in the economic recovery is at its highest level since 2007 – jumping to an index of 102.9 in January from a revised 93.1 in December – according to private research group The Conference Board.
  • NCUA adds ID theft resources to consumer site (Wednesday, January 28, 2015)
    In support of the Federal Trade Commission's Tax Identity Theft Awareness Week, NCUA added new ID theft prevention and reporting resources to its consumer site, MyCreditUnion.gov, and is encouraging credit unions to share the information with their members.
  • Conserved Texans CU continues to improve (Wednesday, January 28, 2015)
    NCUA said Tuesday that Texans Credit Union, which was conserved in April 2011, reported improved loan growth and net worth at year-end 2014 – posting $21.7 million in net income but gave no indication of when the credit union would exit conservatorship.
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