BIRMINGHAM, Ala.—NCUA’s FOM proposal provides more growth opportunities for CUs, asserts one former NCUA chairman who believes the agency could have been more aggressive with changes to the existing rule.
Fresh Today
ALEXANDRIA, Va.—By a 2-1 vote the NCUA board Thursday approved an operating budget for 2016 and 2017 that comes with a 4.1% increase over its predecessor, bringing NCUA’s 2016 budget to $290.2 million.
ALEXANDRIA, Va.–The NCUA board has voted in favor of delegating to the agency’s Director of Examination & Insurance responsibility for setting the overhead transfer rate each year.
ALEXANDRIA, Va.–NCUA again stated that there should be no more Corporate Stabilization Fund assessments, and confirmed that federally insured credit unions will not pay a Share Insurance Fund premium this year—and possibly next.
CHICAGO—Many U.S. smartphone owners are willing to switch platforms to get Apple Pay, according to a new report.
ARLINGTON, Va.—The House Wednesday passed H.R. 1210, the “Portfolio Lending and Mortgage Access Act,” which allows residential mortgage loans held in portfolio by credit unions and other lenders to be treated as qualified mortgages (QM) for the purposes of the CFPB’s mortgage lending rules.
ARLINGTON, Va.– NAFCU Regulatory Affairs Counsel Alexander Monterrubio’s has sent a letter to the Consumer Financial Protection Bureau regarding credit union concerns with a future payday lending rulemaking.
WASHINGTON–The Consumer Financial Protection Bureau has taken action today against an online lender, Integrity Advance, LLC, and its CEO, James R. Carnes, for deceiving consumers about the cost of short-term loans.
FONTANA, Calif.–Chuck Papenfus, president and CEO of Inland Valley FCU, has been named board chairman of the California Credit Union League.
MADISON, Wis.–A new white paper from the CUNA Operations Sales & Service Council, “Key Elements to an Effective BSA-AML Compliance Program,” explores how credit unions execute internal operations necessary to meet BSA-AML compliance.