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  • CurrentC mobile payments app faces criticism (Friday, October 31, 2014)
    CurrentC continues to make headlines as the stores committed to the new digital wallet app – available in 2015 – are blocking usage of Apple Pay, which so far is accepted by increasing numbers as a safer, more secure payment system than traditional credit cards.
  • NAFCU touts CUs in response to NYT op-ed on banks (Friday, October 31, 2014)
    NAFCU urged consumers to check out the value of credit unions in a comment to a New York Times op-ed on the ways consumers are avoiding the high costs of banks.
  • NCUA hosts loan portfolio webinar (Friday, October 31, 2014)
    NCUA is reminding that registration is still open for its Nov. 19 webinar on building a loan portfolio, hosted by its Office of Small Credit Union Initiatives.
  • WSJ: Judge may stay suits against GSEs (Friday, October 31, 2014)
    The Wall Street Journal reports that Justice Department lawyers want a Court of Federal Claims judge to issue a temporary stay on a lawsuit from Fannie Mae and Freddie Mac investors against the government as a similar U.S. district court case progresses.
  • NAFCU’s Risk Management Seminar agenda out (Friday, October 31, 2014)
    Credit unions can now get a look at the early agenda for NAFCU’s first-ever Risk Management Seminar, scheduled Aug. 3 - 5 at the Grand Hyatt Denver in Colorado.
  • 3Q GDP slows, but strong at 3.5% (Friday, October 31, 2014)
    In the third quarter, the U.S. gross domestic product grew by 3.5 percent, according to a NAFCU Macro Data Flash.
  • Berger to retailers: Want CUs’ buy-in? Protect consumers’ data (Friday, October 31, 2014)
    NAFCU President and CEO Dan Berger indicated to six retail industry groups Thursday that they have more work to do if they want credit unions engaged in their inter-industry group working to protect “their shared customers.”
  • Nealon: HMDA proposed changes add to CUs' burden (Thursday, October 30, 2014)
    NAFCU supports the fair lending goals of the Home Mortgage Disclosure Act but finds that CFPB has "failed to provide compelling reasons how the collection of the additional data ensures fair access to credit in the housing market," Regulatory Affairs Counsel Alicia Nealon wrote Wednesday.
  • NAFCU: Merchants’ anti-Apple Pay stance is about profits (Thursday, October 30, 2014)
    Some retailers’ decision to block the use of Apple Pay and similar payment systems, which offer better protection of consumers’ financial and personal information, is just another example of merchants putting profits first, NAFCU Vice President of Political Affairs Katie Marisic said Wednesday.
  • FOMC ends asset purchase program (Thursday, October 30, 2014)
    As expected, the Federal Open Market Committee issued a policy statement announcing the end of the Federal Reserve's asset purchase program following the close of its two-day meeting Wednesday.
  • FDIC survey shows unbanked decline (Thursday, October 30, 2014)
    The FDIC's 2013 National Survey of Unbanked and Underbanked Households report shows unbanked households declined from 8.2 percent to 7.7 percent in two years.
  • Lame-duck Congress could eye tax extenders (Thursday, October 30, 2014)
    NAFCU's legislative affairs team is monitoring the status of package of business and individual tax provisions known as "tax extenders" that have expired but could be revived, at least in part, when Congress returns for its lame-duck session in November.
  • CFPB finds student loan, mortgage servicing issues (Wednesday, October 29, 2014)
    CFPB on Tuesday issued a report noting illegal actions through the bureau's supervision over the student loan and mortgage servicing markets, including consumers being charged unfair late fees and receiving inappropriate debt collection calls.
  • FOMC expected to end tapering program (Wednesday, October 29, 2014)
    The Federal Open Market Committee is expected to issue a policy statement announcing the end of its tapering in the Federal Reserve's asset purchase program following the close of its two-day meeting today.
  • NAFCU to FHFA: GSEs should have flexibility (Wednesday, October 29, 2014)
    NAFCU Regulatory Affairs Counsel PJ Hoffman urged flexibility for government-sponsored enterprises Fannie Mae and Freddie Mac in a comment letter to the Federal Housing Finance Agency Tuesday on the agency's 2015-2017 enterprise housing goals.
  • FinCEN: Bitcoin payments must follow BSA (Wednesday, October 29, 2014)
    The Financial Crimes Enforcement Network issued an administrative ruling that says a company using the virtual currency Bitcoin for payments made to merchants in the U.S. and Latin America would be considered a money transmitter required to comply with the Bank Secrecy Act.
  • American Banker: CFPB looks long at checking account access (Wednesday, October 29, 2014)
    American Banker reported Monday that a CFPB forum on access to checking accounts held earlier this month has sparked concerns that the bureau "may be seeking to go much further in dictating how and when banks open accounts for consumers."
  • Thaler thanks Miller for vets MBL bill, urges action (Wednesday, October 29, 2014)
    NAFCU Vice President of Legislative Affairs Brad Thaler urged House Veterans Affairs Committee Chairman Jeff Miller, R-Fla., to find ways to advance his H.R. 5061, a bill that would exclude veterans' loans from the credit union member business lending cap, before year's end.
  • Pew reviews on-base CU, bank checking, overdraft (Wednesday, October 29, 2014)
    The Pew Charitable Trusts released a report on how well military consumers are served by banks and credit unions on military bases and reiterated its suggestions to CFPB on how to improve overall safety and transparency regarding checking and overdraft practices.
  • Fannie Mae, stockholders settle for $170M (Tuesday, October 28, 2014)
    Fannie Mae reached a $170 million settlement last week over claims that the housing finance giant misled shareholders about its finances, risk management and mortgage exposure before its government takeover in 2008, according to Reuters.
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