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Reserve Requirements and Federal Reserve Update

Nov
07

The Federal Reserve Board (Board) has delayed the implementation of the second phase of its program to simplify reserve requirement administration until June 27, 2013.  The delay aims to provide further development and testing of automated systems to ensure a smooth transition for affected depository institutions.

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Posted By Sharon Bahr read more

CUNA Submits Letter to FHFA on Short Sale Guidance

Nov
07

The Federal Housing Finance Agency (FHFA) issued new short sale guidelines in August 2012, as part of its Servicing Alignment Initiative.  Under these guidelines, Fannie Mae and Freddie Mac will consolidate their existing short sale programs into one standard program effective November 1, 2012.  The new program will permit homeowners to sell their

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MCUA Files Comment Letters

Nov
05

The Missouri Credit Union Association (MCUA) recently filed two comment letters with FASB and the CFPB. See below for details. 

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CFPB News and Updates - 11/5/2012

Nov
05

The following articles cover recent news and updates regarding the Consumer Financial Protection Bureau (CFPB).

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NCUA Board Issues Its 2013 Meeting Schedule

Nov
05

The National Credit Union Administration (NCUA) Board has scheduled its monthly meetings for the following dates in 2013. No meeting is scheduled for August; the meetings usually begin at 9 a.m.

  • Jan. 10
  • Feb. 21
  • March 14
  • April 18
  • May 16
  • June 20
  • July 25
  • Sept. 12
  • Oct. 24
  • Nov. 21
  • Dec. 12

 

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Election Night Watch Parties for Credit Union Friends and Champions

Nov
05

Across the state, candidates supported by Missouri credit unions are holding election night watch parties.  Here is a listing of some of the watch events with credit union-friendly candidates across the state on November 6.   As more information becomes available, MCUA will post updates.  If you know of election night viewing opportunities, please contact Amy McLard at amclard@mcua.org or 314.542.1370.  * Candidates marked with an asterisk are Missouri Credit Union Champions.

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Missouri Credit Unions Share and Learn about “Unbanked” Consumers

Oct
29

A financial access forum focusing on "unbanked" consumers at the Federal Reserve Bank of St. Louis featured input from Missouri credit unions.

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First Community’s Barks Serves on National Federal Reserve Council

Oct
29

A Missouri credit union leader is sharing the credit union perspective on a national level with the Federal Reserve.

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NCUA Issues letter to CUs on New Reporting Requirements

Oct
29

The National Credit Union Administration (NCUA) issued a letter to credit unions in advance of changes to the 5300 Call Report to replace existing reporting requirements on loan modifications with information on troubled debt restructurings (TDRs) specifically.  Revisions to the Call Report are necessary to implement requirements included in the Board’s May 2012

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WOCCU Participates on Financial Stability Board Legal Identifier Project

Oct
29

Since August, the World Council of Credit Unions (WOCCU) has been deeply involved in consultations regarding the Financial Stability Board’s (FSB) Legal Entity Identifier (LEI) project as a member of the FSB’s Private Sector Participation Group.  The LEI system will come into existence likely in March 2013 and will assign a unique number to every financial institution, including credit unions, and all other parties to "financial transactions" in

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