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FFIEC Social Media Guidance

Mar
11
FFIEC Social Media Guidance

The Federal Financial Institutions Examination Council (FFIEC), which includes the National Credit Union Administration (NCUA), issued proposed guidance titled “Social Media: Consumer Compliance Risk Management Guidance.” The proposed guidance addresses the applicability of federal consumer protection and compliance laws, regulations and policies to activities conducted via social media by credit unions and other federally regulated fin

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CFPB Updates - 3/11/2013

Mar
11
CFPB Updates - 3/11/2013

Here are the current Consumer Financial Protection Bureau updates as of March 11, 2013:

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FASB's Credit Losses Proposal Causes Concern

Mar
11
FASB's Credit Losses Proposal Causes Concern

There is growing anxiety about the Financial Accounting Standards Board’s (FASB) 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.

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Update on GAC Hill Meetings

Mar
11
Update on GAC Hill Meetings

By Bill Cheney, President & CEO, Credit Union National Association, Inc.

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How Willing Is Your Board to Engage Members About Political Issues?

Mar
08
How Willing Is Your Board to Engage Members About Political Issues?

By Bill Cheney, Credit Union National Association President

You might be surprised if you asked them—they just might be more willing than you think.

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CFPB's Cordray Scheduled for Nomination Hearing

Mar
08
CFPB's Cordray Scheduled for Nomination Hearing

More news on the “regulatory burden” front.  Consumer Financial Protection Bureau (CFPB) Director Richard Cordray gets the chance to make his best case for Senate approval as permanent director of the agency (for a five-year term) next Tuesday, March 12, 2013,  at a hearing before the Senate Banking Committee.

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Strong 4th Quarter Hints at What Further Regulatory Relief Could Mean

Mar
08
Strong 4th Quarter Hints at What Further Regulatory Relief Could Mean

The National Credit Union Administration (NCUA) this week released impressive fourth quarter data for federally insured credit unions.  Earnings were up, credit unions added two million new members, lending grew in nearly every category.  All are a testament to credit unions’ conservative management principles and our growing member appeal.

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The Cheney Report - 3/1/2013

Mar
07
The Cheney Report - 3/1/2013

By:  Bill Cheney, President, CEO of the Credit Union National Association, Inc.

GAC In the Rearview Mirror, But New Vision Just Beginning
We had an outstanding Governmental Affairs Conference this week.  My thanks to the more than 4,200 of you who attended and helped make it a huge success.  The Hill visits were productive, our speakers delivered powerful messages that made national news and I was very pleased with the reaction to my presentation on a new strategic vision for the credit union system.

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Credit Unions Voice Concerns During GAC Hill Visits

Mar
04
Credit Unions Voice Concerns During GAC Hill Visits

Visits with Missouri’s congressional delegation on Capitol Hill capped off the Credit Union National Association Governmental Affairs Conference (GAC) in Washington, D.C.

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BSAAG Group Meeting & CUNA Nominations

Feb
25
BSAAG Group Meeting & CUNA Nominations

Credit Union National Association (CUNA) staff participated in the U.S. Treasury’s Bank Secrecy Act Advisory Group (BSAAG) meeting last week with the Financial Crimes Enforcement Network (FinCEN), regulators, and financial institutions. At the meeting, CUNA continued to advocate for efforts to minimize regulatory burdens on credit unions and small financial institutions that have limited compliance resources and staff, and to promote more efficient Bank Secrecy Act (BSA) rules.

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