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  • Target-MasterCard deal falls through (Friday, May 22, 2015)
    A $19 million proposed settlement between Target and MasterCard failed to go through because the deal did not receive 90 percent participation rate from MasterCard-issuing banks – a stipulation required by Target.
  • Wyden offers MBL exclusion in Senate (Friday, May 22, 2015)
    A Senate companion to a House bill excluding loans for the purchase of one-to four-unit, non-owner-occupied buildings from credit unions' members business lending cap has been introduced by Sen. Ron Wyden, D-Ore.
  • Bill would give CUs parity under FHLB rules (Friday, May 22, 2015)
    Credit unions would have parity with banks under Federal Home Loan Bank membership criteria under NAFCU-backed legislation introduced late Wednesday by Reps. William Lacy Clay, D-Mo., and Randy Neugebauer, R-Texas, the ranking member and chairman of the House Financial Institutions and Consumer Credit Subcommittee.
  • Fed seeks comments on same-day ACH proposal (Friday, May 22, 2015)
    The Federal Reserve is requesting public comments on its proposed changes to Federal Reserve Banks' same-day automated clearing house (ACH) service in response to an approved final rule from NACHA – The Electronic Payments Association.
  • Hunt moderates 'meet the regulators' panel at EasCorp meeting (Friday, May 22, 2015)
    NAFCU Senior Vice President of Government Affairs and General Counsel Carrie Hunt moderated a "Meet the Regulators" panel discussion at EasCorp Thursday for the Association of Credit Union Senior Officers.
  • Existing-home sales down 3.3% in April (Friday, May 22, 2015)
    Existing-home sales fell 3.3 percent nationwide in April, but year-over-year sales have increased for seven consecutive months and were 6.1 percent higher in April than a year ago, according to data published by the National Association of Realtors.
  • Shelby relief bill to advance to full Senate (Friday, May 22, 2015)
    The "Financial Regulatory Improvement Act," a NAFCU-backed regulatory relief bill authored by Senate Banking Committee Chairman Richard Shelby, R-Ala., was approved by the committee in a party-line vote of 12-10 after mark-up on Thursday.
  • FHFA requests input on loan limit index (Friday, May 22, 2015)
    The Federal Housing Finance Agency is requesting public input on its method for assessing the national average single-family house price index (HPI), and whether it should continue to be the basis for adjusting government-sponsored enterprises' conforming loan limits.
  • IG details how USPS could provide banking services (Friday, May 22, 2015)
    The U.S. Postal Service's inspector general released a report Thursday listing five potential approaches the service could take to expand financial services in locations where low-income or underserved consumers have little or no access to traditional banks.
  • 1.1M affected by CareFirst BlueCross BlueShield breach (Friday, May 22, 2015)
    Health insurer CareFirst BlueCross BlueShield announced on Wednesday that a data breach compromised the personal data of as many as 1.1 million consumers, including their names, birth dates, email contacts and insurance identification numbers.
  • Berger represents CUs on payments system security (Friday, May 22, 2015)
    NAFCU President and CEO Dan Berger represented credit unions during a Payments Security Task Force steering committee meeting in New York City Thursday on a wide range of issues affecting the payments ecosystem.
  • NCUA: Still no future stabilization assessments expected (Friday, May 22, 2015)
    NCUA Board Chairman Debbie Matz yesterday reiterated the agency’s expectation there will be no need for future stabilization assessments on credit unions for the Temporary Corporate Credit Union Stabilization Fund.
  • Issa bill would revise agencies’ reporting (Friday, May 22, 2015)
    NAFCU is reviewing a bill introduced this week by Rep. Darrell Issa, R-Calif., requiring NCUA and other federal financial regulators to adopt standards for all their information and reports regularly filed with or submitted to the administration.
  • Shelby reg relief bill clears panel, 12-10 (Thursday, May 21, 2015)
    The “Financial Regulatory Improvement Act,” a NAFCU-backed regulatory relief bill authored by Senate Banking Committee Chairman Richard Shelby, R-Ala., was approved by the committee in a party-line vote of 12-10 after mark-up this morning.
  • Big banks to pay $5.7B over currency price-fixing (Thursday, May 21, 2015)
    Five banks – Barclays, JPMorgan Chase, Citigroup, Royal Bank of Scotland and UBS – will pay roughly $5.7 billion in fines, and four pleaded guilty to settle charges of foreign currency price-fixing, according to reports Wednesday.
  • MasterCard’s Murphy to talk payments at Annual Conference (Thursday, May 21, 2015)
    MasterCard General Counsel and Chief Franchise Officer Tim Murphy will give credit union leaders an overview of the payments landscape during NAFCU’s 48th Annual Conference and Solutions Expo, scheduled June 23-26 in Montreal.
  • Index report: Consumers most satisfied with CUs (Thursday, May 21, 2015)
    Credit unions had the highest satisfaction score of any financial institution, followed by community banks, large and mid-sized banks and the four "universal" banks, according to the Consumer Banking Expectations Index released Tuesday by banking-technology firm FIS.
  • NCUA Board hears stabilization fund report today (Thursday, May 21, 2015)
    The NCUA Board holds an open meeting today to hear a quarterly report on the Temporary Corporate Credit Union Stabilization Fund, which, by all previous accounts, still is not likely to require any new assessments from credit unions.
  • NAFCU webcast gives benefits of SBA lending (Thursday, May 21, 2015)
    The Small Business Administration offers a host of benefits to credit unions, including new streams of income, new products to generate new members and additional services to retain current members, SBA Office of Financial Assistance Director Linda Rusche told attendees of a free NAFCU webcast Wednesday.
  • CFPB to start financial coaching program (Thursday, May 21, 2015)
    To assist servicemembers recently transitioned out of active duty and other, economically vulnerable consumers, CFPB says it plans to place 60 certified financial coaches at organizations throughout the nation to provide individualized educational services.
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