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NCUA Report on Understanding the Risks of Private Student Loans

Mar
19

The National Credit Union Administration (NCUA) reported on risks from private student loans in the March edition of The NCUA REPORT. Student loan debt surpassed $1 trillion in 2012 with 15% coming from private student loans according the NCUA quoting Consumer Financial Protection Bureau (CFPB) statistics. Total delinquency nationwide is 5.4% but only 1.46% for credit unions.

Posted By Sharon Bahr read more

FTC Report on Mobile Payments

Mar
18

The Federal Trade Commission (FTC) recently released a staff report highlighting key issues facing consumers and companies as they adopt mobile payment services. The report noted the rapid growth in mobile payments innovation and services. Also, the report showed the problem of mobile “cramming” when third parties place unauthorized charges on a consumer’s mobile phone bill.

Posted By Sharon Bahr read more

FDIC Unlikely to Reduce Deposit Insurance Premiums

Mar
18

The Federal Deposit Insurance Corporation (FDIC) will not reduce deposit insurance premiums charged to banks. The Dodd-Frank Wall Street Reform and Consumer Protection Act requires the Deposit Insurance Fund to have a reserve ratio of 1.35 percent by 2020.

Posted By Sharon Bahr read more

CFPB Updates - 3/18/2013

Mar
18

NLRB Recess Appointments Case to Move to Supreme Court;
Could Impact CFPB

Posted By Sharon Bahr read more

Opportunity to Voice Concerns to FASB in Effort to Improve Proposal on Credit Losses

Mar
18

Credit unions in Missouri are urged to share their input with the Credit Union National Association (CUNA) as it develops a comment letter to the Financial Accounting Standards Board (FASB) about its proposal regarding financial reporting of expected credit losses on loans and other financial assets.

The proposed model would utilize a single “expected loss” measurement for the recognition of credit losses. This would replace the multiple existing impairment models in U.S. generally accepted accounting principles (GAAP) that primarily use an “incurred loss” approach.

Posted By Sharon Bahr read more

CUNA Focus on Regulatory Relief at NCUA Chairman Meeting

Mar
18

The Credit Union National Association (CUNA) Executive Committee met with National Credit Union Administration (NCUA) Board Chairman Debbie Matz to discuss matters of concern for credit unions on March 12. Items discussed include NCUA’s efforts to update Prompt Corrective Action (PCA), focusing on risk-based requirements.

Posted By Sharon Bahr read more

Privacy Notice Bill Passes U.S. House

Mar
13

H.R. 749, the Eliminate Privacy Notice Confusion Act, passed the U.S. House of Representatives on March 12. The bill was passed by a voice vote, with no opposition.  It now must go to the U.S. Senate for action.

Posted By Amy McLard read more

NACHA Proposal on Compliance & Operational Topics

Mar
13

NACHA - The Electronic Payments Association has issued another proposal to address certain compliance and operational topics on the Automated Clearing House (ACH) network.

Posted By Sharon Bahr read more

NIST Information Request

Mar
12

The National Institute for Standards and Technology (NIST) has issued a request for information on the coordination of a “critical infrastructure” cyber-security standards framework, as one of the initial steps of the White House Executive Order and Presidential Policy Directive on cyber-security.

Posted By Sharon Bahr read more

NCUA Updates - 3/11/13

Mar
12

Here are two National Credit Union Administration (NCUA) updates:

Posted By Sharon Bahr read more

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