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MCUA Urges FHFA to Ensure Credit Unions Have Access to Secondary Mortgage Market

Dec
10

On December 3, the Missouri Credit Union Association (MCUA) filed a comment letter with the Federal Housing Finance Agency (FHFA) regarding an agency white paper entitled “Building a New Infrastructure for the Secondary Mortgage Market.”  As the FHFA moves forw

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Bank TAG Vote Scheduled for December 10 - Credit Unions Urged to Act

Dec
06

Credit unions from Missouri took part in National Hike the Hill on November 27-28 to urge members of Congress to take action on member business lending legislation.  At the time, combining MBL with other legislation – including the banks’ Transaction Account Guarantee Program (TAG) – was an option shared with U.S. Senators. 

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NCUA Reports to CUNA on Agency's Budget

Dec
05

The Credit Union National Association (CUNA) recently sent a letter to the National Credit Union Administration (NCUA) Board members urging them to hold the line on the agency’s expenses and provide greater transparency and accountability to credit unions regarding resource allocations.

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Mortgage Issues Meeting with CFPB Director Cordray

Dec
05

The Credit Union National Association (CUNA) staff joined several credit union executives for a meeting with Consumer Financial Protection Bureau (CFPB) Director Richard Cordray regarding pending mortgage-related rules including the Truth-in-Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) rule, the Ability-to-Repay rule involving qualified mortgages, the proposals to amend Regulation Z and Regulation X in connection with the mortg

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NCUA Pulls Proposed Call Report Questions and Releases Meeting Agenda

Dec
05

NCUA Pulls Proposed Call Report Questions

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Missouri Volunteer Takes on ABA's CEO

Dec
03

A credit union director in Mexico, Missouri is weighing in against an attack by American Bankers Association (ABA) CEO Frank Keating in a national Congressional blog.  

Patrick Donovan, a director for United Credit Union, wrote a letter to the editor in response to Keating’s November 28 opinion piece opposing credit union member business lending efforts.  Donovan’s letter was posted on The Hill’s Congress Blog on December 3.

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Emerson to Retire from Congress

Dec
03

U.S. Representative Jo Ann Emerson (R-District 8) is retiring from the U.S. House of Representatives.  She will step down in February 2013.  Emerson is taking the job of President and Chief Executive Officer at the National Rural Electric Cooperative Association.

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Credit Union Champion Ann Wagner Named to House Financial Services Committee

Dec
03

U.S. Representative-Elect Ann Wagner (R-District 2) will serve on the U.S. House Financial Services Committee.  House leadership announced Wagner’s appointment on December 3. 

“I am honored that House leadership has the confidence to grant me a committee assignment on the House Committee on Financial Services,” said Representative-Elect Wagner. “This is a critical time to serve on this Committee with legislation like Dodd-Frank, Wall Street Reform and the Consumer Protection Act needing further evaluation before they do greater damage to our already fragile economy.”

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IRS To Accept e-Signed Documents

Dec
03

Effective January 7, 2013, the Internal Revenue Service (IRS) will begin accepting electronically-signed 4506-T and 4506-EZ documents, which are the income verification forms that are part of the processing of most all mortgages and loan modifications. Currently, signatures on these “request for transcript of tax return” forms are required to be original wet- ink signatures.

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Bank Secrecy Act "Funds Transfers" Definition Proposed Rule

Dec
03

The Financial Crimes Enforcement Network (FinCEN) and the Federal Reserve Board have proposed amendments to the regulatory definitions of “funds transfer” and “transmittal of funds” under the Bank Secrecy Act (BSA) regulations.

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