February

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  • Berger calls anew for more FHA oversight (February 28, 2013) Topics: Daily News
    NAFCU Executive Vice President of Government Affairs Dan Berger reiterated the association’s call for tougher oversight of the Federal Housing Administration in advance of today’s Senate Banking Committee hearing on the FHA’s financial condition and current challenges.
  • Bernanke: Dodd-Frank relief in order (February 28, 2013) Topics: Daily News
    Federal Reserve Chairman Ben Bernanke told lawmakers Wednesday that Congress should take a look at the Dodd-Frank Act with an eye toward making associated regulations more manageable for small institutions.
  • Cordray touts CU lending model (February 28, 2013) Topics: Daily News
    CFPB Director Richard Cordray, speaking at a credit union industry conference on Wednesday, said that the credit union lending model is “the kind of service-based model” that the CFPB wants to encourage in the financial marketplace.
  • Digital edition of March/April TFCU online (February 28, 2013) Topics: Daily News
    The digital edition of the March/April issue of The Federal Credit Union magazine, NAFCU’s award-winning bimonthly magazine, is now available on NAFCU’s website.
  • Jack Lew confirmed Treasury secretary (February 28, 2013) Topics: Daily News
    The Senate on Wednesday voted 71-26 to confirm Jack Lew, the president’s former chief of staff, as Treasury secretary.
  • Sequester appears on track for Friday (February 28, 2013) Topics: Daily News
    Barring an agreement between Congress and the White House, it appears that a sequestration of billions in federal budget dollars is set to commence Friday, and administration officials, lawmakers and finance experts say it will have a sobering economic impact.
  • Tech/Sec speakers focus on privacy, data security (February 28, 2013) Topics: Daily News
    Credit unions learned about current laws regarding corporate data security and privacy procedures during the second day of the NAFCU Technology and Security Conference in Austin, Texas.
  • Warren urges CUs to back CFPB rule exemptions (February 28, 2013) Topics: Daily News
    Sen. Elizabeth Warren, D-Mass., on Wednesday expressed support for credit unions and urged them to “use their clout” in communicating to lawmakers their preference for the CFPB’s rulemakings, which include small-lender exemptions, over Dodd-Frank rules that lack such exemptions.
  • Becker turns up the volume on 5-point plan (February 27, 2013) Topics: Daily News
    Credit unions are suffering under “overwhelming” regulatory burden and need broad-based relief now, NAFCU President and CEO Fred Becker said Tuesday in a renewed call for action on the association’s five-point plan in CUInsight.
  • Bernanke defends policy actions (February 27, 2013) Topics: Daily News
    Federal Reserve Chairman Ben Bernanke, in testimony Tuesday for the Senate Banking Committee, offered a staunch defense of the Fed’s bond-buying policy, saying its benefits clearly exceed possible costs.
  • Coalition video touts supplemental capital bill (February 27, 2013) Topics: Daily News
    The Coalition for Credit Union Access launched a video in support of H.R. 719, a NAFCU-backed measure that would authorize credit unions to accept non-share forms of capital that do not alter their cooperative nature.
  • Experts at Tech/Sec detail cyber threats (February 27, 2013) Topics: Daily News
    Credit unions learned how to protect their members from fraud, cybercrime and online threats during opening-day sessions at the NAFCU Technology and Security Conference in Austin, Texas.
  • NAFCU meets with trades, corporates (February 27, 2013) Topics: Daily News
    The NAFCU Executive Committee and senior staff participated in a series of meetings Tuesday with CUNA, corporate credit unions and NASCUS to collaborate on legislative, regulatory and economic issues affecting the credit union industry.
  • New-home sales surge as supply shrinks (February 27, 2013) Topics: Daily News
    The release of pent-up demand, historically low interest rates and an improving labor market helped support robust new-home sales in January, NAFCU Research Assistant Doug Christman said.
  • Hunt urges expanded ability-to-repay exemptions (February 26, 2013) Topics: Daily News
    NAFCU’s Carrie Hunt on Monday urged the CFPB to expand the range of exemptions offered to credit unions in the bureau’s ability-to-repay rule, as proposed amendments do not go far enough in providing adequate regulatory relief.
  • Matz: NCUA more responsive, flexible (February 26, 2013) Topics: Daily News
    NCUA Chairman Debbie Matz, pointing to record growth and complexity in the credit union industry, said Monday that the agency is exploring more rule changes to allow added innovation by credit unions as it allocates its supervision staff more efficiently.
  • Military Saves Week kicks off with proclamation (February 26, 2013) Topics: Daily News
    The annual Military Saves Week was launched at the Pentagon Monday with the signing of a proclamation by Acting Under Secretary of Defense for Personnel and Readiness Jessica Wright recognizing the importance of saving for servicemembers and their families.
  • NAFCU op-eds strike urgent chord on CU priority issues (February 26, 2013) Topics: Daily News
    Two recently published NAFCU-penned opinion pieces underscore the importance of credit unions working together to ensure Congress preserves the credit union tax exemption and enacts the regulatory reform measures called for in the association’s five-point plan.
  • NCUA marks ‘Saves’ weeks online (February 26, 2013) Topics: Daily News
    NCUA marked the beginning of America Saves Week and Military Saves Week with the debut of a new look for its free consumer websites and a video from Chairman Debbie Matz about the value of saving.
  • SBA proposes easing of 7(a), 504 rules (February 26, 2013) Topics: Daily News
    The SBA is proposing to revamp its 7(a) and 504 program rules to simplify business affiliation rules, eliminate the personal resources test and allow full financing of expenses regardless of when they are incurred.
  • Tech/Sec Conference kicks off (February 26, 2013) Topics: Daily News
    Privacy expert John Sileo will talk to credit unions about his long, costly road to recovery from identity theft during today’s opening session of the NAFCU Technology and Security Conference, which runs through Thursday in Austin, Texas.
  • Thaler to ABA: Not so fast on tax (February 26, 2013) Topics: Daily News
    NAFCU’s Brad Thaler quickly contacted lawmakers Monday to debunk the misinformation being spread anew via print and radio advertisements and in letters to House and Senate leaders about credit unions and their exemption from federal corporate income tax.
  • Becker presses NCUA on need for IRR guidance (February 25, 2013) Topics: Daily News
    NAFCU President and CEO Fred Becker on Friday asked NCUA to give “more clear guidance” to examiners on how credit unions are to be examined by the agency for interest rate risk management.
  • Becker, Enoch on hand for ‘Saves’ proclamation (February 25, 2013) Topics: Daily News
    NAFCU President and CEO Fred Becker and NAFCU Military Liaison Quincy Enoch are heading to the Pentagon today for a proclamation-signing ceremony to kick off this week’s Military Saves campaign.
  • CFPB eyes 4 banks’ auto lending, ECOA (February 25, 2013) Topics: Daily News
    The CFPB has contacted at least four banks about possible actions targeting their vehicle loans and dealers’ interest-rate markups “that may be discriminatory,” Bloomberg reported last week.
  • Former feds warn FSOC off money funds rules (February 25, 2013) Topics: Daily News
    Reuters said a bipartisan group of former securities regulators are urging the Financial Stability Oversight Council to back off plans to push the Securities and Exchange Commission to adopt new money market fund regulations.
  • NCBA backs MBL, capital, privacy notice bills (February 25, 2013) Topics: Daily News
    The National Cooperative Business Association on Friday wrote Congress in support of three measures introduced recently that reflect key elements of NAFCU’s five-point plan for regulatory relief.
  • NCUA publishes MBL waiver guidance (February 25, 2013) Topics: Daily News
    NCUA on Friday published supervisory guidance on the member business loan regulatory waiver process that explains, among other things, when and how credit unions can seek blanket waivers instead of having to apply for a waiver for each affected MBL.
  • Pew: Young adults paring down debt, assets (February 25, 2013) Topics: Daily News
    Consumers under 35 years of age have reduced their debt loads following the Great Recession but also have fewer assets like homes and cars, according to a new study from the Pew Research Center.
  • Becker calls rural district, TIPS rules good steps (February 22, 2013) Topics: Daily News
    The NCUA Board’s final rules on the definition of “rural district” and allowing federal credit union investments in Treasury Inflation Protected Securities mesh well with NAFCU’s five-point plan for regulatory relief, NAFCU President and CEO Fred Becker said.
  • CFPB eyes student loan ‘affordability plan’ (February 22, 2013) Topics: Daily News
    The CFPB yesterday issued a request for information that seeks ideas for offering student-loan borrowers more flexible repayment options.
  • Existing-home sales data buoys outlook (February 22, 2013) Topics: Daily News
    Record-low interest rates, high affordability, pent-up demand and a slowly improving labor market contributed to January’s 9.1 percent year-over-year rise in existing-home sales, and NAFCU expects sales to remain strong this year.
  • Latest Beltway Buzz on its way (February 22, 2013) Topics: Daily News
    Subscribers to the NAFCU Beltway Buzz enewsletter will receive this month’s edition in today’s email.
  • NAFCU issues call to action on exemption, reg reform (February 22, 2013) Topics: Daily News
    NAFCU President and CEO Fred Becker on Thursday called on members to press lawmakers on the importance of preserving the credit union tax exemption and enacting the regulatory relief measures outlined in the association’s five-point plan.
  • NCUSIF going strong, Woodson reports (February 22, 2013) Topics: Daily News
    The National Credit Union Share Insurance Fund closed 2012 at a level equal to 1.3 percent of insured shares, even in the face of rising share growth, Mary Ann Woodson told the NCUA Board Thursday.
  • Reg Compliance School highlights recent changes (February 22, 2013) Topics: Daily News
    One entire day of NAFCU’s highly popular Regulatory Compliance School, set for March 18-23 at National Harbor, Md., will be devoted to helping attendees understand recent rule changes and looking at what else to expect in 2013.
  • ‘Rural district’ rule, TIPS, NCUSIF slated (February 21, 2013) Topics: Daily News
    The NCUA Board is set to take final action today on a proposed new definition of “rural district” for chartering purposes and a rule to allow federal credit union investments in Treasury Inflation Protected Securities.
  • Awards Competition entries due March 15 (February 21, 2013) Topics: Daily News
    NAFCU is encouraging members to submit their entries now for the association’s Annual Awards Competition for Federal Credit Union of the Year, CEO of the Year, Professional of the Year and Volunteer of the Year in any of three asset-size categories.
  • Carrier: Fed purchases may hint at rate policy (February 21, 2013) Topics: Daily News
    Credit unions that are wondering when the Federal Reserve’s current low-interest rate policy may end should look to the level of the central bank’s asset purchases for clues, NAFCU Chief Economist David Carrier said Wednesday.
  • CBO rep to testify on budget, economy (February 21, 2013) Topics: Daily News
    Congressional Budget Office Director Douglas Elmendorf is set to testify next Tuesday before the Senate Finance Committee on the budget and economic outlook over the next decade.
  • Cordray: 4 classes of problems under scrutiny (February 21, 2013) Topics: Daily News
    Deceptive marketing, debt “traps,” the intersection of debt collection and credit reporting, and discrimination are the types of problems the CFPB is continuing to monitor, bureau Director Richard Cordray said during Tuesday’s meeting of the Consumer Advisory Board.
  • NCUA adds to focus on cyber threats (February 21, 2013) Topics: Daily News
    NCUA released guidance Wednesday to help credit unions effectively address cybersecurity threats, a key focus of NAFCU’s five-point plan for credit union regulatory relief.
  • NCUA, NASCUS team up on low-income (February 21, 2013) Topics: Daily News
    NCUA says it has teamed up with the National Association of State Credit Union Supervisors on a process to help state-chartered credit unions determine their own eligibility for NCUA’s low-income designation.
  • 4 more cosponsors for MBL bill (February 20, 2013) Topics: Daily News
    Four more cosponsors signed on Friday to H.R. 688, the “Credit Union Small Business Jobs Creation Act,” NAFCU-sought legislation introduced last week to permit an increase in the member business loan cap to 27.5 percent of assets for eligible credit unions.
  • 4 NCUA funds get clean audit opinions (February 20, 2013) Topics: Daily News
    NCUA has received clean audit opinions on all four of its permanent funds and says it expects to see a report on the Temporary Corporate Credit Union Stabilization Fund in the coming months.
  • Amez United CU of Detroit closed (February 20, 2013) Topics: Daily News
    The tiny Amez United CU of Detroit, Mich., was liquidated Tuesday and NCUA was appointed liquidating agent.
  • CARD Act costs outweigh benefits, NAFCU writes (February 20, 2013) Topics: Daily News
    Some of the Credit CARD Act’s broad changes have created costs and difficulties for credit unions that outweigh the benefits to credit union members, NAFCU Regulatory Affairs Counsel PJ Hoffman told the CFPB on Tuesday.
  • CFPB advisory board starts 2-day meeting (February 20, 2013) Topics: Daily News
    The CFPB’s Consumer Advisory Board begins a two-day meeting in Washington today that will include discussion of supervision, overdraft services, credit reporting, mobile payments and remittances.
  • FinCEN group aims to bolster reg efficiencies (February 20, 2013) Topics: Daily News
    FinCEN Director Jennifer Shasky Calvery will be the co-chair of a new Bank Secrecy Act Advisory Group subcommittee that she says will be aimed ultimately at building a “smarter, more effective, and more cost efficient regulatory framework.”
  • Matz underscores volunteers’ critical role (February 20, 2013) Topics: Daily News
    NCUA Chairman Debbie Matz, noting volunteers’ critical role in their institutions’ safety and soundness, is calling on volunteer directors to be especially attuned to emerging risks, particularly interest rate risk and third-party risk.
  • Consumer Advisory Board meets Wednesday (February 19, 2013) Topics: Daily News
    NAFCU representatives are set to attend tomorrow’s meeting of the CFPB Consumer Advisory Board, which will include remarks from bureau Director Richard Cordray, board members and attendees.
  • GAO says Dodd-Frank costs still unknown (February 19, 2013) Topics: Daily News
    Unintended consequences and related costs add to the challenges of assessing the benefits and costs of the Dodd-Frank Act, according to experts interviewed by the Government Accountability Office for a report on the act’s potential impacts.
  • Matz urges CUs to join ‘Saves’ campaigns (February 19, 2013) Topics: Daily News
    NCUA Chairman Debbie Matz is encouraging credit unions to promote the importance of saving to their members by participating in the annual America Saves and Military Saves Weeks, Feb. 25-March 3.
  • MLO rule summary, scope/applicability chart online (February 19, 2013) Topics: Daily News
    NAFCU updated its best-of-class compliance aids on the CFPB’s final mortgage regulations Friday with the inclusion of a summary of the mortgage loan originator final rule and related scope-and-applicability chart.
  • Monitor results underscore need for tools, guidance (February 19, 2013) Topics: Daily News
    Forty percent of all respondents surveyed for the latest NAFCU Economic & CU Monitor said they are concerned about their credit unions’ interest rate risk, a finding that jibes with NAFCU’s previous entreaties to NCUA for more tools and guidance generally on risk management issues.
  • NAFCU engaged amid tax reform talk (February 19, 2013) Topics: Daily News
    A House Ways and Means Committee hearing last Thursday examining charitable tax deductions featured plenty of discussion about tax code reform, and NAFCU is staying close to lawmakers and their staffs in its efforts to ensure preservation of the credit union federal income tax exemption.
  • NAFCU lauds new privacy notice bill (February 19, 2013) Topics: Daily News
    Reps. Blaine Luetkemeyer, R-Mo., and Brad Sherman, D-Calif., on Friday reintroduced NAFCU-sought legislation to eliminate the requirement for credit unions to mail privacy notices yearly to members even when they don’t change their policies.
  • NAFCU nominates 2 to BSA Advisory Group (February 19, 2013) Topics: Daily News
    NAFCU on Friday nominated Katey Proefke of Chevron FCU and Anthony Vellek of Transportation to membership on Financial Crimes Enforcement Network’s Banks Secrecy Act Advisory Group.
  • 11 candidates, so far, in NAFCU Board elections (February 15, 2013) Topics: Daily News
    Eleven candidates were selected by the NAFCU Nominating Committee this week for this year’s association board elections affecting six of the association’s 11 board seats.
  • Becker weighs in on money-market fund reform (February 15, 2013) Topics: Daily News
    NAFCU President and CEO Fred Becker told the Financial Stability Oversight Council Thursday that credit unions have an interest in ensuring their members’ assets are safely invested, and that the panel should work to ensure its money-market mutual fund reform efforts “do not create market uncertainty.”
  • Cordray details mortgage rule implementation (February 15, 2013) Topics: Daily News
    The CFPB says it will be coordinating with other agencies, producing plain-language guides, updating its official interpretations, preparing readiness guides and educating consumers in coming months to ensure smooth implementation of the bureau’s ability-to-repay and mortgage servicing rules.
  • NAFCU hails Royce-McCarthy MBL bill (February 15, 2013) Topics: Daily News
    NAFCU President and CEO Fred Becker on Thursday hailed the introduction by Reps. Ed Royce, R-Calif., and Carolyn McCarthy, D-N.Y., of H.R. 688, a credit union member business lending bill that seeks anew to facilitate an increase in the MBL cap to a maximum 27.5 percent of assets for eligible institutions.
  • NAFCU lauds supplemental capital bill (February 15, 2013) Topics: Daily News
    NAFCU is endorsing H.R. 719, legislation introduced Thursday by Reps. Peter King, R-N.Y., and Brad Sherman, D-Calif., addressing supplemental capital for credit unions.
  • NCUA to act on ‘rural,’ investments (February 15, 2013) Topics: Daily News
    The two-member NCUA Board is poised to vote on final rules next Thursday to define what is a “rural district” for field-of-membership purposes and authority for federal credit unions to invest in Treasury Inflation Protected Securities.
  • Senate Democrats back Cordray, CFPB (February 15, 2013) Topics: Daily News
    Senate Democrats told the president Thursday that they back his re-nomination of Richard Cordray as CFPB director and that they will oppose efforts to thwart the appointment or restructure the bureau in return for confirmation.
  • Trial disclosure program costly, Becker warns (February 15, 2013) Topics: Daily News
    Credit unions are less likely to participate in the CFPB’s trial disclosure program since it puts the cost and burden on individual credit unions to design new disclosures, NAFCU President and CEO Fred Becker said Thursday.
  • Auto demand helps lift retail sales (February 14, 2013) Topics: Daily News
    Pent-up demand for new or replacement vehicles helped retail sales log a 0.1 percent uptick in January, NAFCU economists said.
  • Becker says cybersecurity E.O. not enough (February 14, 2013) Topics: Daily News
    NAFCU President and CEO Fred Becker said the association appreciates President Obama’s executive order on cybersecurity, calling it “a good first step,” but said more needs to be accomplished legislatively to safeguard the U.S. financial system and nation overall.
  • Cordray, others to testify on Dodd-Frank Act (February 14, 2013) Topics: Daily News
    NAFCU lobbyists will have credit unions’ regulatory burden concerns in mind as they monitor today’s Senate Banking Committee hearing on Dodd-Frank Act implementation.
  • FHA’s Galante pressed on lockout policy (February 14, 2013) Topics: Daily News
    Federal Housing Administration Commissioner Carol Galante, pressed on the agency’s three-year lockout policy, told lawmakers in a hearing Wednesday that the FHA doesn’t condone advertising that makes FHA loans sound like easy credit and said the criteria for FHA loans are restrictive.
  • MBL bill calls for NCUA, GAO reports (February 14, 2013) Topics: Daily News
    H.R. 688, a bill introduced today by Reps. Ed Royce, R-Calif., and Carolyn McCarthy, D-N.Y., to increase the credit union member business lending cap, would require the NCUA Board and the Government Accountability Office to report to Congress on the bill’s impact within three years of enactment.
  • NAFCU unveils CFPB rule scope, applicability charts (February 14, 2013) Topics: Daily News
    NAFCU is offering its members scope and applicability charts to help them better understand which of the CFPB’s mortgage rule requirements apply to which types of loans.
  • Ways and Means sets tax working groups (February 14, 2013) Topics: Daily News
    The House Ways and Means Committee announced the formation of 11 working groups on tax reform Thursday, and credit unions’ federal corporate income tax exemption could be addressed by at least two of these.
  • Webcast, charts break down mortgage regs for CUs (February 14, 2013) Topics: Daily News
    NAFCU webcast participants yesterday gained valuable insight about seven new CFPB regulations that will impact credit union mortgage lending, including the scope of the requirements and what steps need to be taken to comply with them.
  • Berger presses lawmakers anew on MBL support (February 13, 2013) Topics: Daily News
    NAFCU Executive Vice President of Government Affairs Dan Berger on Tuesday pressed leaders of the House Committee on Small Business to support an increase in credit unions’ member business lending authority as they examine ways to bolster small business job creation and economic growth.
  • CU ally Mills to depart top SBA post (February 13, 2013) Topics: Daily News
    Karen Mills on Monday announced plans to leave the top position at the Small Business Administration, where she has spent the past four years working with NAFCU and others to expand the availability of small-business credit and build the SBA’s portfolio to nearly $90 billion.
  • Exams, risk issues on Senate Banking agenda (February 13, 2013) Topics: Daily News
    The Senate Banking Committee will “closely monitor” mortgage originations, appraisals, interaction with the CFPB and risk management issues affecting credit unions and community banks during the 113th Congress, panel Chairman Tim Johnson, D-S.D., said Tuesday.
  • Hunt details top NCUA, CFPB issues (February 13, 2013) Topics: Daily News
    NAFCU General Counsel and Vice President of Regulatory Affairs Carrie Hunt pointed to NCUA rulemaking held over from last year and ongoing concerns about the CFPB’s consumer complaint process in remarks Tuesday during NAFCU’s member call-in.
  • NAFCU briefs CUs on relief package (February 13, 2013) Topics: Daily News
    NAFCU member credit unions heard the latest on rules to come, some still in the making and the association’s five-point regulatory relief plan submitted to Congress Tuesday during yesterday’s member-only call-in, “A Credit Union Industry Update.”
  • President signs executive order on cyber security (February 13, 2013) Topics: Daily News
    President Obama signed an executive order on cyber security yesterday just ahead of his State of the Union address, and more details on the order will be announced at a briefing today at the Department of Commerce.
  • CFPB targets mortgage servicing transfers (February 12, 2013) Topics: Daily News
    The CFPB is making mortgage-servicing transfer problems a focus of its supervisory activities given the impact on millions of borrowers of poorly handled transfers and homeowners’ own challenges keeping current on their loans, the bureau said in a bulletin Monday.
  • Cyber security executive order expected tomorrow (February 12, 2013) Topics: Daily News
    President Obama will issue an executive order on cybersecurity Wednesday morning that will establish a voluntary system allowing companies operating critical infrastructure to choose to meet certain cybersecurity standards and practices, according to a Feb. 11 report in The Hill newspaper.
  • Joy Lee is NCUA’s ombudsman (February 12, 2013) Topics: Daily News
    NCUA Chairman Debbie Matz on Monday announced that Joy Lee is now the agency’s ombudsman, a position that serves as “the public’s voice to NCUA leadership.”
  • NAFCU calls for CU reg relief (February 12, 2013) Topics: Daily News
    NAFCU President and CEO Fred Becker today called on key members of the House and Senate to support the association’s proposed five-point plan for providing broad-based regulatory relief to the nation’s federal credit unions through administrative, capital, structural, operational and data security reforms.
  • NCP Community Development FCU conserved (February 12, 2013) Topics: Daily News
    NCUA on Friday placed the $2-million-in-assets NCP Community Development FCU of Norfolk, Va., in conservatorship and said it will work to resolve safety-and-soundness issues while continuing normal member services.
  • OIG clears NCUA contingency fee contracts (February 12, 2013) Topics: Daily News
    NCUA Inspector General William DeSarno told House Oversight and Governemnt Reform Chairman Darrell Issa, R-Calif., that NCUA’s use of contingency fee contracts in its role as conservator of two failed corporates was exercised with extreme care and that the costs appear reasonable.
  • Cordray to testify Thursday on Dodd-Frank (February 11, 2013) Topics: Daily News
    NAFCU will be paying close attention to a Senate Banking Committee hearing Thursday that will examine the Dodd-Frank Act and include testimony from CFPB Director Richard Cordray and other regulators.
  • CUs’ 4Q consumer credit outpaces banks (February 11, 2013) Topics: Daily News
    Credit unions’ consumer credit growth outpaced that of banks and finance companies in the fourth quarter, according to Federal Reserve data released Friday.
  • If funding expires, federal shutdown ahead (February 11, 2013) Topics: Daily News
    Federal government agencies and offices are currently operating under a continuing resolution, or stopgap funding bill, that expires March 27, leaving just weeks for Congress and the White House to agree on fiscal 2013 funding to avoid a federal government shutdown.
  • Lew scheduled to testify on Treasury nomination (February 11, 2013) Topics: Daily News
    White House Chief of Staff Jack Lew is scheduled to testify Wednesday morning before the Senate Finance Committee on his nomination to succeed Tim Geithner as next Treasury secretary.
  • NAFCU free member call-in tomorrow (February 11, 2013) Topics: Daily News
    NAFCU members will get up-to-the-minute news of the most pressing legislative and regulatory developments affecting credit unions from the association’s senior staff during a free member call-in tomorrow.
  • Annual Awards entries due in 5 weeks (February 8, 2013) Topics: Daily News
    March 15 is the deadline for entry to NAFCU’s Annual Awards Competition for designations of Federal Credit Union of the Year, CEO of the Year, Professional of the Year and Volunteer of the Year in three credit union asset-size groups.
  • CFPB piloting consumer hotline in Newark (February 8, 2013) Topics: Daily News
    The CFPB on Thursday announced a pilot it is conducting for consumers in Newark, N.J., that gives them a special, four-digit information number that puts them in direct contact with the bureau’s Office of Consumer Response.
  • Cordray talks QM, prepares to testify (February 8, 2013) Topics: Daily News
    CFPB Director Richard Cordray told NAFCU and other financial industry representatives Thursday that it would be a mistake for prudential regulators to examine institutions in a way that steers them toward only providing mortgages defined as “qualified” under the ability-to-repay rule.
  • Go Direct notes switch to epayments near (February 8, 2013) Topics: Daily News
    The federal Go Direct campaign is encouraging partners and all financial institutions to remind their recipients of federal recurring payments that those payment have to go electronically beginning March 1 – just three weeks from now.
  • NCUA Board in closed session today (February 8, 2013) Topics: Daily News
    The NCUA Board meets in closed session at noon today to discuss supervisory activity.
  • Next week: 7 mortgage regs in 2 hours (February 8, 2013) Topics: Daily News
    Credit unions will get a look at seven recently finalized mortgage rules from the CFPB during a Feb. 13 webcast led by NAFCU Director of Regulatory Compliance Steve Van Beek.
  • Berger fights for CU exemption (February 7, 2013) Topics: Daily News
    NAFCU Executive Vice President of Government Affairs Dan Berger emailed members of Congress Wednesday morning in an ongoing effort to ensure they have the real facts on the credit union federal tax exemption.
  • Cordray: Exams should not steer to QM (February 7, 2013) Topics: Daily News
    CFPB Director Richard Cordray told NAFCU and other financial industry representatives today that it would be a mistake for prudential regulators to examine institutions in a way that steers them toward providing only mortgages defined as “qualified” under the CFPB's ability-to-repay rule.
  • CUs get help on labor law rules (February 7, 2013) Topics: Daily News
    Credit unions learned what they need to know as employers to avoid running afoul of federal wage-and-hour and harassment claims during NAFCU’s webcast, “Top Credit Union HR Compliance Challenges,” held Wednesday and led by Margaret Fiester.
  • House panel preps cyber security plan (February 7, 2013) Topics: Daily News
    A plan for reviving legislation on the sharing of information on cyber security threats could be announced by week’s end by the House Intelligence Committee, a report said.
  • Lawmakers concerned about FHA role, soundness (February 7, 2013) Topics: Daily News
    House Financial Services Committee Republicans aired concerns about the Federal Housing Administration’s role in insuring residential mortgages during a hearing that included testimony from think-tank and market analyst witnesses.
  • Waters says DOJ’s S&P suit overdue (February 7, 2013)
    House Financial Services Ranking Member Maxine Waters, D-Calif., on Wednesday commended the Department of Justice for filing its “long overdue” lawsuit against Standard & Poor’s over rating activities in lead-up to the financial crisis.
  • Ways and Means eyes charitable contributions (February 7, 2013) Topics: Daily News
    The House Ways and Means Committee is set to hold a hearing Feb. 14 on the deduction for charitable contributions in connection with its work on comprehensive tax reform.
  • April 1 deadline for CDFI recertification (February 6, 2013) Topics: Daily News
    Credit unions whose most recent community financial development institution certifications were completed Feb. 1, 2010, or earlier must recertify by 11:59 p.m. Eastern on April 1 to participate in the fiscal 2013 CDFI funding round.
  • Becker advocates for more FHA oversight (February 6, 2013) Topics: Daily News
    NAFCU called for more oversight of the Federal Housing Administration’s loan lockout policy in a letter sent on the eve of a House Financial Services Committee hearing on the FHA’s role in mortgage insurance.
  • Derivatives, remittance measures not far off (February 6, 2013) Topics: Daily News
    NCUA plans to issue a proposed rule on derivatives in the first six months of the year, and the CFPB expects to finalize its international remittance rule in the first quarter, NCUA Chairman Debbie Matz and CFPB Director Richard Cordray said in an NCUA webinar Tuesday.
  • Justice: S&P defrauded investors (February 6, 2013) Topics: Daily News
    The Justice Department late Monday filed a civil suit against Standard & Poor’s, alleging the firm knowingly inflated the ratings it issued on mortgage-backed instruments, including the type that played a key role in the downfall of Western Corporate FCU, U.S. Central Corporate FCU and other financial institutions.
  • Mortgage rule compliance showcased online (February 6, 2013) Topics: Daily News
    Credit unions searching for NAFCU resources on the CFPB’s new mortgage rules need only look in one place now.
  • Thaler: Here’s the buzz (February 6, 2013) Topics: Daily News
    NAFCU launched a new monthly email newsletter late last month – the NAFCU Beltway Buzz, by association lobbyist Brad Thaler – to give member credit unions an “inside baseball” look at issues on Capitol Hill that could affect them.
  • Cordray heard during NCUA webinar today (February 5, 2013) Topics: Daily News
    CFPB Director Richard Cordray will speak to credit unions in a free town hall webinar hosted today by NCUA Board Chairman Debbie Matz set for 3 p.m. Eastern.
  • Enoch invites CUs to Military Saves (February 5, 2013) Topics: Daily News
    NAFCU’s Quincy Enoch is urging defense credit unions to participate in Military Saves Week, which runs Feb. 25-March 2, to showcase the ways defense credit unions are working to help military families year-round.
  • FHLBs press anew on emergency liquidity rule (February 5, 2013) Topics: Daily News
    The chief executives of all 12 Federal Home Loan Banks are urging NCUA anew to include their institutions among the sources of “emergency liquidity” credit unions can rely on under a rule proposed by NCUA.
  • Senate Republicans ready to block Cordray (February 5, 2013) Topics: Daily News
    Forty-three Republican senators on Friday sent a joint letter to President Obama stating they would oppose any nominee to head the Consumer Financial Protection Bureau until there are significant reforms, The Hill’s On the Money blog reported.
  • TILA/RESPA issues aired with CFPB (February 5, 2013) Topics: Daily News
    Credit unions’ concerns about the CFPB’s proposed, combined mortgage disclosures were aired at length in a meeting at the bureau’s headquarters Monday among CFPB Director Richard Cordray, senior CFPB staff and representatives from the NAFCU staff and board.
  • Vehicle sales strong despite slight dip (February 5, 2013) Topics: Daily News
    Vehicle sales declined slightly but remained strong in January with help from an improving labor market, easing credit availability and pent-up demand, NAFCU Research Assistant Doug Christman said Monday.
  • Compliance Monitor explores escrow rule (February 4, 2013) Topics: Daily News
    NAFCU members can gain a better understanding of how to qualify for the small creditor exemption from the CFPB’s new escrow requirements for higher-priced mortgage loans by reading the February issue of the NAFCU Compliance Monitor newsletter.
  • Cyber security order near (February 4, 2013) Topics: Daily News
    The president is expected to issue a cyber security order in the second half of the month, according to comments by Senate Homeland Security and Governmental Affairs Committee Chairman Tom Carper, D-Del., reported Friday by The Hill.
  • Data indicate solid footing for jobs recovery (February 4, 2013) Topics: Daily News
    NAFCU Staff Economist Curt Long said January’s job report contains some encouraging signs that the labor market is “on more solid footing than previously thought,” including sizable upward revisions to prior data.
  • NAFCU, CFPB meet on TILA/RESPA (February 4, 2013) Topics: Daily News
    NAFCU President and CEO Fred Becker, senior staff and Region II Board Director Martin Breland are headed to the CFPB today to discuss the bureau’s combined mortgage disclosure rules with CFPB Director Richard Cordray.
  • New tax estimates positive for CUs (February 4, 2013) Topics: Daily News
    NAFCU is reading the Joint Committee on Taxation's steep cut in the estimated “cost” of the credit union federal income tax exemption as an affirmation of the association’s view that the exemption doesn’t cost but enhances federal revenues and economic growth.
  • Webcast examines EEOC rules, HR issues (February 4, 2013) Topics: Daily News
    Credit unions will learn valuable information about complying with Equal Employment Opportunity Commission rules and other top human resources-related compliance issues during NAFCU's Feb. 6 webcast.
  • Antonakes is CFPB deputy director (February 1, 2013) Topics: Daily News
    NAFCU looks forward to working with Steve Antonakes as he takes his new role of CFPB acting deputy director, association General Counsel and Vice President of Regulatory Affairs Carrie Hunt said Thursday.
  • Becker debunks ABA on MBL, tax (February 1, 2013) Topics: Daily News
    NAFCU President and CEO Fred Becker suggested to House and Senate leaders Thursday that the banking industry might have helped limit the financial crisis if it had paid more attention to its own troubles and focused less on credit union member business lending.
  • CFPB scrutinizing card products on campus (February 1, 2013) Topics: Daily News
    The CFPB yesterday launched an inquiry about card-based financial products offered to college students on campus, including products offered by federally regulated financial institutions such as credit unions.
  • Debt limit bill to president, fiscal questions remain (February 1, 2013) Topics: Daily News
    The Senate on Thursday voted 64-34 to pass a bill suspending the federal debt ceiling until mid-May, which would give lawmakers and the White House more time to find agreement on how to address automatic spending cuts and other fiscal issues.
  • NAFCU suggests more exam prep time, guidance (February 1, 2013) Topics: Daily News
    NAFCU welcomed NCUA Letter 13-CU-01, issued Thursday, on the agency’s 2013 examination focus and offered two ideas to help make the process even better for credit unions and their examiners: more preparation time and more guidance in the pre-exam checklist.
  • Van Beek: CFPB misses on credit card survey (February 1, 2013) Topics: Daily News
    NAFCU is contacting the CFPB to find out why it’s giving credit unions participating for the first time ever in a survey on financial institution credit card plans only 10 business days in which to complete it.
  • Waters questions foreclosure settlement (February 1, 2013) Topics: Daily News
    House Financial Services Ranking Member Maxine Waters, D-Calif., is pressing bank regulators for information on the “abrupt” end of the independent foreclosure review process and the tentative $8.5 billion settlement announced over mortgage servicing abuses.