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  • NCUA seeks CUs' input on exam modernization (Friday, May 27, 2016)
    NCUA Board Chairman Rick Metsger on Thursday asked for credit unions' input regarding the agency's efforts to modernize the examination and supervision program – a move praised by NAFCU as the association continues to push for extended exam cycles for well-run, healthy credit unions.
  • FTC, Florida stop 2 phony debt-relief schemes (Friday, May 27, 2016)
    The Federal Trade Commission and the state of Florida said Wednesday they are taking action against two separate operations charged with running deceptive student-loan-debt-relief schemes.
  • Thaler thanks Kirk for education savings bill (Friday, May 27, 2016)
    Writing in support of S. 195, the "401(Kids) Education Savings Account Act of 2015," NAFCU's Brad Thaler touted the bill's removal of barriers, such as income restrictions for contributors, that prevent families from using credit union-offered Coverdell Education Savings Accounts.
  • NAFCU's offices closed Monday for Memorial Day (Friday, May 27, 2016)
    NAFCU's offices are closed May 30, Memorial Day, but members will still have access to the association's website for research purposes, event registrations and email contacts with NAFCU.
  • SBA's Contreras-Sweet: CUs help small biz (Friday, May 27, 2016)
    Small Business Administrator Maria Contreras-Sweet reminded the Senate Small Business and Entrepreneurship Committee Thursday that SBA has zeroed out loan fees on loans of less than $150,000 in an effort to recruit more credit unions into the system for the benefit of small businesses.
  • Berger hits back at bankers' FOM distortions (Friday, May 27, 2016)
    NAFCU President and CEO Dan Berger pushed back Thursday against community banker claims about NCUA's effort to modernize field-of-membership rules, as cited in a Wall Street Journal article this week.
  • NAFCU urges extended implementation for mortgage servicing rule (Friday, May 27, 2016)
    NAFCU Director of Regulatory Affairs Alexander Monterrubio urged CFPB to set a 24-month implementation period for its mortgage servicing rule, once that rule is finalized, to give credit unions some breathing room between that date and implementation of the Home Mortgage Disclosure Act rule.
  • OCC hits Wells Fargo with $70M penalty (Friday, May 27, 2016)
    The Office of the Comptroller of the Currency on Wednesday hit Wells Fargo Bank with a $70 million civil money penalty for its previous violations of a mortgage-servicing-related order, which the OCC also terminated that day.
  • Thaler at DoD roundtable on financial readiness (Friday, May 27, 2016)
    NAFCU Vice President of Legislative Affairs Brad Thaler attended a financial readiness roundtable held Thursday by the Defense Department on how to improve servicemembers' financial situations.
  • NAFCU-backed CFPB measures passed by approps panel (Thursday, May 26, 2016)
    The House Appropriations Subcommittee on Financial Services and General Government yesterday approved legislation that includes NAFCU-sought provisions on CFPB funding and structure, and funds for low-income credit unions and small-business lending.
  • NCUA materials give QM changes for rural, underserved areas (Thursday, May 26, 2016)
    NCUA Board Chairman Rick Metsger on Wednesday issued a chart and summary explaining the changes made by CFPB that broaden the availability of certain qualified-mortgage rule exceptions for small creditors that operate in rural and underserved areas. The changes went into effect March 31.
  • Fed study: Households improving, but many still struggle (Thursday, May 26, 2016)
    Overall, American households reported mild improvements in their financial well-being during 2015, though many still admitted they are struggling financially and feel "excluded from economic advancement," according to the Federal Reserve's latest survey of households’ financial conditions.
  • CFPB covers best practices to combat elder financial abuse (Thursday, May 26, 2016)
    May is Older Americans Month, and CFPB focused on that and ways credit unions and banks can prevent the financial abuse of older consumers during a webinar Wednesday detailing findings and recommendations from a March report on the subject.
  • FDIC: Mobile banking helps underserved consumers (Thursday, May 26, 2016)
    Mobile banking can help underbanked and unbanked consumers have more control over their finances, increase access to money and help with long-term financial management, according to a new FDIC report released Wednesday.
  • Webcasts give insight on strategic board best practices (Thursday, May 26, 2016)
    Monitoring credit union success and learning how to add more value to a credit union board were some of the many topics discussed in yesterday’s NAFCU webcast, “Keeping Score: How Does Your Board Measure Its Own Success?”
  • FHFA House Price Index up 1.3% (Thursday, May 26, 2016)
    The Federal Housing Finance Agency House Price Index rose 1.3 percent during the first quarter of 2016, marking the 19th consecutive quarterly price increase for the index.
  • Citibank to pay $425M to CFTC (Thursday, May 26, 2016)
    Citibank will pay $425 million in fines to the U.S. Commodity Futures Trading Commission to settle allegations of attempting to manipulate a U.S. benchmark for interest rate products.
  • Online lender Prosper ups rates for some amid investor drop (Thursday, May 26, 2016)
    Online lender Prosper Marketplace Inc. will raise rates for borrowers deemed "risky" amid trouble finding investors to fund its loans, according to The Wall Street Journal.
  • CECL survey responses due May 31 (Thursday, May 26, 2016)
    Responses for NAFCU's Economic & CU Monitor survey focusing on the Financial Accounting Standards Board's current expected credit lost (CECL) standard are due May 31.
  • NAFCU's LaBerge at NCUA listening session on minority institutions (Thursday, May 26, 2016)
    NAFCU Regulatory Compliance Counsel Elizabeth LaBerge attended NCUA's public listening session on how it might enhance its Minority Depository Institutions Preservation Program.
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