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Missouri CUs Endorse Congressman Wm. Lacy Clay as CU Champion

Oct
12
Missouri CUs Endorse Congressman Wm. Lacy Clay as CU Champion

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
Cleaver Discusses Credit Union Concerns

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
MCUA Comments on ACH P2P Payments Proposal

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
Matz & NCUA Answer Questions During Agency Webinar

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:

Posted By Sharon Bahr read more

Central Chapter Hosts Inaugural Legislative Reception

Oct
11
Central Chapter Hosts Inaugural Legislative Reception

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
FHFA White Paper: Secondary Mortgage Market Infrastructure

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

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NCUA Legal Opinion Letter to Facilitate Voluntary Mergers

Oct
09
NCUA Legal Opinion Letter to Facilitate Voluntary Mergers

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

Mortgage Loan Proposals Pending at Two Agencies

Oct
05
Mortgage Loan Proposals Pending at Two Agencies

There are currently two pending proposals regarding appraisals for certain mortgage loans.  First, a Consumer Financial Protection Bureau (CFPB) proposal would amend Regulation B to implement changes to the Equal Credit Opportunity Act (ECOA) and require creditors to provide free copies of all written appraisals and valuations developed in connection with an application for a loan secured by a first lien on a dwelling.  Currently, federal credit unions are exempt from the appraisal delivery requirements of R

Posted By Sharon Bahr read more

CFPB Draft Five-Year Strategic Plan

Oct
05
CFPB Draft Five-Year Strategic Plan

On September 25, 2012, the Consumer Financial Protection Bureau (CFPB) released a draft strategic plan for the next five years, 2013 – 2018.  The draft strategic plan includes setting goals and strategies on what the agency aims to achieve, establishing strategies for the agency, and measuring the agency’s pe

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What Will the Departure of Gigi Hyland and Dave Marquis Mean for NCUA and Credit Unions?

Oct
05
What Will the Departure of Gigi Hyland and Dave Marquis Mean for NCUA and Credit Unions?

By:  Bill Cheney, President/CEO of Credit Union National Association

We have gotten this question repeatedly in the last few days. While it is a good and fair inquiry, no one can say for certain whether things will be better or worse with the departure of these NCUA officials, but they will be different.

Posted By Sharon Bahr read more

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