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Joint Effort to Improve Low-Income Designation Process

Feb
25

Last week, the National Credit Union Administration (NCUA) announced a joint NCUA-National Association of State Credit Union Supervisors (NASCUS) effort to streamline the process for federally insured, state-charted credit unions to determine whether they are eligible for designation as a low-income credit union (LICU).

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Posted By Sharon Bahr read more

NCUA Holds Monthly Open Board Meeting

Feb
19

The National Credit Union Administration (NCUA) will hold its monthly open Board meeting on February 21, 2013 at 10:00 a.m. There are currently three items listed on its agenda for consideration by the NCUA Board:

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Posted By Sharon Bahr read more

Three Federal Bills Introduced Would Impact Credit Unions

Feb
19

Federal lawmakers have introduced three bills in the U.S. House of Representatives that would impact credit unions .  The bills, introduced between February 14 and 15, deal with member business lending, supplemental capital, and privacy notification requirements.

The new member business lending bill (MBL) is. H.R. 688 and was introduced by U.S. Rep. Ed Royce (R-CA)on February 14 .  It would lift the credit union member business lending cap to 27.5% of assets, from the current 12.25%.

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Posted By Amy McLard read more

FLEC Holds First Meeting of 2013

Feb
19

Last week, the Financial Literacy and Education Commission (FLEC) held its first quarterly meeting of the year. FLEC is comprised of the heads of 20 federal agencies, including the National Credit Union Administration (NCUA), Consumer Financial Protection Bureau (CFPB), and other financial regulators.

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Posted By Sharon Bahr read more

Update On CUNA Materials on Ability to Repay/QM Rule

Feb
19

The Credit Union National Association (CUNA) posted a Final Rule Analysis on the Consumer Financial Protection Bureau's (CFPB) Ability-to-Repay and Qualified Mortgages rule. Of significance, the CUNA Final Rule Analysis includes a quick summary and a new section regarding “CUNA’s Initial Take on the Impact of the Rule.” In that section, we briefly address some positive issues as well as concerns about the implementation of the rule.

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Posted By Sharon Bahr read more

MCUA Files Comment Letter on CFPB Trial Disclosure Programs

Feb
19

On February 15, 2013, the Missouri Credit Union Association (MCUA) filed a Comment Letter with the Consumer Financial Protection Bureau (CFPB) on the agency’s proposed policy to encourage trial disclosure programs.

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Posted By Sharon Bahr read more

Cybersecurity Executive Order and Policy Directive

Feb
19

The White House released an Executive Order (EO) on critical infrastructure cybersecurity and a Presidential Policy Directive (PPD) on critical infrastructure security and resilience.

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Posted By Sharon Bahr read more

MCUA Files Comments with CFPB Regarding CARD Act

Feb
19

On February 19, 2013, the Missouri Credit Union Association (MCUA)  filed a comment letter with the Consumer Financial Protection Bureau (CFPB) in response to its request for information regarding certain aspects of the consumer credit card market, including regul

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Posted By Sharon Bahr read more

U.S. Rep. Clay Announces $2 Million in Housing Grants

Feb
14

Missourians are no strangers to cold winters, but in some St. Louis area communities, drafty windows, leaky roofs and rotting foundations cause an even greater burden during these difficult months. For nearly 300 St. Louis area residents, $2.0 million in new affordable housing grants will assist them in making necessary home improvements – giving them a warmer, more affordable winter.

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Posted By Sharon Bahr read more

Republican Nominee in Missouri’s Open District 8 Seat

Feb
12

Missouri Republican leaders have selected State Representative Jason Smith (R-District 120) as the Republican nominee for the 8th Congressional District seat vacated by Jo Ann Emerson.  The decision was made on February 9, after six rounds of balloting by the Republican committee members narrowed the field down from thirteen hopeful candidates.  The final round of ballot

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Posted By Amy McLard read more

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