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CFPB Updates Its Consumer Complaint Database

Oct
15

The Consumer Financial Protection Bureau (CFPB) published new information on its blog regarding the consumer complaint database.  The latest snapshot of complaints received, details complaints from July 21, 2011 through September 30, 2012 on credit card issues.  During this time frame, the CFPB received approximately 79,20

Posted By Sharon Bahr read more

MCUA Comments on CFPB's Mortgage Servicing Proposed Rules

Oct
15

The Missouri Credit Union Association (MCUA) submitted two separate formal comment letters on the CFPB’s mortgage servicing proposed rules.  In our letters, we urged the Bureau to consider that many of the proposal requirements are outside of the statutory requirements under the Dodd-Frank Act.  We also urged the Bureau to exempt credit unions from several provisions within the proposed rules, where possible. &

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Missouri Credit Union Association Names Two State Credit Union Champions

Oct
15

The Missouri Credit Union Association has named two candidates for Missouri State Representative as Credit Union Champions:  Jon Carpenter and Michael Frame.

Posted By Amy McLard read more

Missouri CUs Endorse Congressman Wm. Lacy Clay as CU Champion

Oct
12

U.S. Representative William Lacy Clay (D-District 1) was recognized as a Credit Union Champion during a meeting with credit union leaders on October 11. 

Posted By Sharon Bahr read more

Cleaver Discusses Credit Union Concerns

Oct
12

Congressman Emanuel Cleaver II (D-District 5) met with credit union leaders in Kansas City for an in-district meeting on October 9.  The group discussed member business lending, credit union tax status and regulatory burdens facing financial institutions with Congressman Cleaver, who serves on the House Financial Services Committee.

Posted By Sharon Bahr read more

MCUA Comments on ACH P2P Payments Proposal

Oct
11

Last week, Missouri Credit Union Association (MCUA) submitted a comment letter to NACHA – The Electronic Payments Association regarding its person-to-person payments (P2P) proposal.  Click here to read MCUA's letter.

Posted By Sharon Bahr read more

Matz & NCUA Answer Questions During Agency Webinar

Oct
11

National Credit Union Administration (NCUA) Board Chairman Matz and senior NCUA staff held a webinar on Thursday, October 4, 2012,  on the state of the credit union industry and key regulatory issues pending at the agency.

In response to a question regarding low-income designation letters NCUA recently sent to eligible credit unions, staff stated that:

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Central Chapter Hosts Inaugural Legislative Reception

Oct
11

The Central Chapter of Credit Unions hosted 2012 election candidates Michael Wood (R) and Phyllis Domann (D) during its inaugural Legislative Reception on Wednesday, October 10 at Bones Restaurant.  This was a unique opportunity for credit union and MCUA staff to meet with the candidates in a relaxed environment and discuss topics important to the credit union movement.

Posted By dkent read more

FHFA White Paper: Secondary Mortgage Market Infrastructure

Oct
09

On Thursday, October 4, 2012, the Federal Housing Finance Agency (FHFA) released a white paper entitled, “Building a New Infrastructure for the Secondary Mortgage Market.”  The white paper describes a framework for a new common securitization platform and a model Pooling and Servicing Agreement.  The FHFA seeks to identify the co

Posted By Sharon Bahr read more

NCUA Legal Opinion Letter to Facilitate Voluntary Mergers

Oct
09

The National Credit Union Administration (NCUA) has discretion under the Federal Credit Union Act (FCUA) to approve a change to a credit union’s charter to facilitate a voluntary merger with another healthy credit union, according to a new legal opinion from NCUA General Counsel Mike McKenna issued last week. 

Posted By Sharon Bahr read more

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