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  • Obama signs NAFCU-supported IOLTA bill (Friday, December 19, 2014)
    President Barack Obama, as urged by NAFCU, signed into law H.R. 3468, the "Credit Union Share Insurance Fund Parity Act," ensuring credit unions parity with banks on escrow accounts such as Interest on Lawyer Trust Accounts (IOLTAs). NAFCU has asked NCUA to quickly make any necessary rule clarifications.
  • 2015 Reg Compliance School helps CUs tackle reg burden (Friday, December 19, 2014)
    Credit unions will gain the knowledge needed to conquer a growing number of regulatory compliance requirements at NAFCU’s 2015 Regulatory Compliance School,which takes place March 30-April 3 in Arlington, Va.
  • Debt collectors to pay servicemembers $2.5M (Friday, December 19, 2014)
    CFPB and the attorneys general in North Carolina and Virginia on Thursday ordered Freedom Stores Inc. and others to provide more than $2.5 million in relief to servicemembers affected by their illegal debt collection practices.
  • Fannie survey predicts 'modest' housing growth (Friday, December 19, 2014)
    Fannie Mae's fourth-quarter 2014 Mortgage Lender Sentiment Survey showed fewer lenders tightening credit standards and fewer lenders expecting decreased demand in the next three months, which Fannie said supports positive expectations for the housing market next year.
  • NCUA letter recaps 2015 NCUSIF assessment range (Friday, December 19, 2014)
    In December's Letter to Credit Unions 14-CU-09, NCUA Board Chairman Debbie Matz notes that in 2015 the agency projects no Temporary Corporate Credit Union Stabilization Fund assessment and expects any share insurance premium will be in the range of 0 to 5 basis points.
  • Johnson urges coordination on student loan issues (Friday, December 19, 2014)
    Senate Banking Committee Chairman Tim Johnson, D-S.D., urged the Department of Education, Treasury and CFPB to work together on issues surrounding the student loan market, including student loan servicing and debt collection, in individual letters sent Wednesday.
  • Matz asks DoD to exempt PALs from credit rule (Friday, December 19, 2014)
    NCUA Chairman Debbie Matz Thursday urged the Defense Department to protect payday alternative loans, or PALs, provided by credit unions under NCUA rules under any final rule on credit to servicemembers.
  • Berger marks 1 year since Target breach disclosure (Friday, December 19, 2014)
    An editorial by NAFCU President and CEO Dan Berger today in American Banker pledges NAFCU’s continued vigilance in seeking action to secure national data security standards for merchants.
  • Krebs: Reports of Atlanta parking service data breach (Thursday, December 18, 2014)
    KrebsOnSecurity.com reported this week that an Atlanta-based airport parking service, Park-n-Fly, may have been hit by an online credit card breach, based on financial institutions reporting a pattern of fraud.
  • CFPB sues Sprint, 'sham' credit card firm (Thursday, December 18, 2014)
    CFPB filed lawsuits against Sprint Corporation and a Texas-based company Wednesday, accusing the former of "cramming" consumers by billing for unauthorized third-party charges and the latter of promoting a "sham" credit card.
  • Inflation down 0.3% in November (Thursday, December 18, 2014)
    Data from the Bureau of Labor Statistics showed a 0.3 percent decrease for overall inflation in November, which NAFCU Chief Economist and Director of Research Curt Long said was the largest decline in headline consumer inflation in six years.
  • FOMC to stay current course, no change in rates (Thursday, December 18, 2014)
    The Federal Open Market Committee announced Wednesday at the close of its two-day meeting that it will stay its current monetary policy course and added that it can be "patient" in deciding when to begin normalizing policy.
  • NAFCU video: ‘Together We Are Strong’ (Thursday, December 18, 2014)
    NAFCU is encouraging credit unions to join the association in the fight against regulatory burdens and the growing challenges from Wall Street banks in its new membership video initiative, “Together We Are Strong.”
  • Berger reiterates RBC concerns to Matz, encourages working group (Thursday, December 18, 2014)
    NAFCU President and CEO Dan Berger reiterated the association's position on risk-based capital in a letter to NCUA Board Chairman Debbie Matz, urging that the board include major modifications to several key areas when it issues its second proposal.
  • NCUA sues bank trustees of MBS sold to corporates (Thursday, December 18, 2014)
    NCUA on Wednesday announced it is has filed a lawsuit against U.S. Bank National Association and Bank of America National Association, saying the banks failed to follow through on their legal duties as trustees for 99 residential mortgage-backed securities trusts, in turn harming corporate credit unions.
  • NCUA responds on data loss (Thursday, December 18, 2014)
    NCUA’s recent loss of a thumb drive containing sensitive data from an insured credit union “resulted from a failure to follow agency policies on securing sensitive data,” agency Executive Director Mark Treichel said in a statement Wednesday.
  • First 2015 grant round for low-income CUs open (Thursday, December 18, 2014)
    NCUA is inviting applications for its first grant round of 2015, for low-income credit unions interested in providing staff training or hiring interns through funds from the Community Development Revolving Loan Fund.
  • FOMC, Yellen set to address next policy actions (Wednesday, December 17, 2014)
    The Federal Open Market Committee completes a two-day monetary policy meeting today, with a policy statement and press conference with Fed Chair Janet Yellen expected to address any next policy steps ahead.
  • Hunt, in video, talks RBC, credit-check, more (Wednesday, December 17, 2014)
    NAFCU Senior Vice President of Government Affairs and General Counsel Carrie Hunt provides a year-end regulatory and legislative recap in a video message on issues such as NCUA's risk-based capital proposal, the Department of Defense's credit-check proposal, the credit union tax exemption and CFPB rulemaking.
  • Berger writes Matz urging better data protection (Wednesday, December 17, 2014)
    NAFCU President and CEO Dan Berger urged NCUA Board Chairman Debbie Matz to review internal policies and procedures for safeguarding credit unions' sensitive data in light of an NCUA examiner's reported loss of an external flash drive containing secure information from a credit union.
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