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  • FTC staff highlight mobile financial services issues (Tuesday, September 16, 2014)
    Federal Trade Commission staff pointed to unauthorized charges, unfair billing practices and other consumer protection issues of concern in a letter to CFPB on the use of mobile financial systems by consumers, especially underserved consumers.
  • CFPB to talk TILA-RESPA mortgage disclosures (Tuesday, September 16, 2014)
    CFPB will address specific questions relating to changes in interpretation and implementation of integrated mortgage disclosures under the Truth in Lending Act and Real Estate Settlement Procedures Act during an Oct. 1 webinar hosted by the Federal Reserve.
  • FHFA settles with HSBC for $550M (Tuesday, September 16, 2014)
    The Federal Housing Finance Agency has settled with HSBC North American Holdings for $550 million in connection with alleged violations by the company of federal and state securities laws in connection with private-label mortgage-backed securities purchased by Fannie and Freddie before the financial crisis.
  • House debates QM point-and-fees, passes savings bill (Tuesday, September 16, 2014)
    The House on Monday evening debated a bill on the designation of “systemically important financial institutions” that includes a qualified mortgage points-and-fees fix and other provisions backed by NAFCU to help draw support when it reaches the Senate.
  • NAFCU urges FHFA on guarantee, pricing (Tuesday, September 16, 2014)
    NAFCU Regulatory Affairs Counsel Alicia Nealon underscored the importance to credit unions of access to the secondary market, fair pricing and an efficient securitization platform in a letter Monday to the Federal Housing Finance Agency on its 2015-19 strategic plan.
  • NCUA offers how-to guide on starting an FCU (Tuesday, September 16, 2014)
    NCUA has published a guide for groups considering applying for a federal credit union charter, providing information on how to secure funds for start-up costs, surveying potential membership and creating a business plan.
  • FHLB membership criteria comments due Nov. 12 (Tuesday, September 16, 2014)
    Comments are due Nov. 12 to the Federal Housing Finance Agency on its proposed changes to rules affecting who may obtain membership in the Federal Home Loan Banks.
  • CFPB forum Oct. 8 on checking accounts (Tuesday, September 16, 2014)
    CFPB will hold a forum in Washington Oct. 8 on how checking account screening policies and practices affect consumers’ ability to acquire and use checking account products.
  • McFadden on reg burden: ‘Enough is enough’ (Tuesday, September 16, 2014)
    NAFCU witness Linda McFadden, president and CEO of XCEL Federal Credit Union in Bloomfield, N.J., will tell the Senate Banking Committee today why “enough is enough” in response to the ongoing overregulation of the nation’s credit unions.
  • NAFCU responds to NCUA on CUs’ reg burden (Tuesday, September 16, 2014)
    NAFCU Senior Vice President of Government Affairs and General Counsel Carrie Hunt countered several points made by NCUA in testimony posted for today’s hearing, “Examining the State of Small Depository Institutions.”
  • NAFCU before Senate Banking Tuesday on reg relief (Monday, September 15, 2014)
    NAFCU witness Linda McFadden, president and CEO of XCEL Federal Credit Union in Bloomfield, N.J., will seek regulatory relief for credit unions during a Senate Banking Committee hearing Tuesday that will also include witnesses for NCUA and banking regulators.
  • Furnace wins NAFCU’s 2014 Paul Revere Award (Monday, September 15, 2014)
    Walter Furnace, government and industry relations manager at American Airlines Federal Credit Union in Fort Worth, Texas, received NAFCU’s 2014 Paul Revere Award during the final day of the association’s Congressional Caucus Friday in Washington.
  • Retail sales increased 0.6% in August (Monday, September 15, 2014)
    Total retail sales increased 0.6 percent in August as year-over-year sales growth accelerated to 5 percent, according to data published by the Census Bureau and analyzed by NAFCU Staff Economist Doug Christman.
  • Shasky Calvery notes importance of BSA reporting (Monday, September 15, 2014)
    Financial Crimes Enforcement Director Jennifer Shasky Calvery answered questions about Bank Secrecy Act transaction reporting thresholds, guidance in dealing with marijuana-related businesses and more during NAFCU's 2014 Congressional Caucus on Friday.
  • Gerety: 'Cybersecurity doesn’t have to be complicated' (Monday, September 15, 2014)
    Treasury Department Acting Assistant Secretary for Financial Institutions Amias Gerety discussed the rising number of cybersecurity threats facing credit unions at NAFCU's 2014 Congressional Caucus Friday.
  • Sherman: Let CUs notify members of breaches (Monday, September 15, 2014)
    Rep. Brad Sherman, D-Calif., told NAFCU Congressional Caucus attendees he looked forward to devising a statute allowing financial institutions to notify consumers about the specifics of a data security breach when reissuing cards because of it.
  • House poised to vote points-and-fees fix, more (Monday, September 15, 2014)
    The House is poised to vote today on a bill facilitating prize-linked savings and another that combines the qualified mortgage point-and-fees fix and other bills under a suspension of House rules.
  • NCUA, AARP work together on financial literacy (Monday, September 15, 2014)
    NCUA and AARP are working on initiatives to promote financial education and outreach to consumers, the agency announced last week.
  • WSJ piece: Check out CUs for car loans (Monday, September 15, 2014)
    Credit unions are noted as a good source of affordable auto loans in a Wall Street Journal piece that ran Friday and quotes NAFCU-member Pentagon Federal Credit Union and Mid-Atlantic Federal Credit Union.
  • Ginnie Mae chief courts CUs at Caucus (Monday, September 15, 2014)
    Ginnie Mae President Ted Tozer promoted a continued government role in housing finance and encouraged credit unions to partner with his organization in remarks Friday during the closing general session of NAFCU’s Congressional Caucus.
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