Items Tagged with 'National Association of Federal Credit Unions'


  • National Credit Union Administration sued over updated membership rule

    The role of credit unions called into question by ABA
    Not more than a day after the National Credit Union Administration published its Field of Membership final rule in the Federal Register, the American Bankers Association filed a lawsuit. To the trade group, the final rule steps away from the intended purpose of credit unions to serve only a single, well-defined local community.
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  • October jobs report falls slightly below expectations

    September revised higher
    One of the last jobs reports for 2016, and the last one before the election, showed that total nonfarm payroll employment grew by 161,000 in October. While this increase is slightly below expectations, large upward revisions to prior months more than made up for it.
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  • RBS to pay $1.1 billion to NCUA over mortgage securities settlement

    Recoveries will offset the total costs to credit unions
    The latest in a series of settlements that date back to the financial crisis will cost the Royal Bank of Scotland $1.1 billion, which it will pay to the National Credit Union Administration in order to settle claims related to faulty mortgage-backed securities sold to U.S. credit unions.
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  • CFPB to credit unions: New mortgage regulations level the lending playing field

    TRID is good news
    After the financial crisis, the government unleashed a wave of new regulation; a move that left credit unions constantly fighting to make sure they don’t drown in the aftermath. The latest speech from CFPB Director Richard Cordray comes off as persuasive, trying to get credit unions to see all the good the rules do for them, but that's not the vibe credit unions received. Is TRID a win for credit unions?
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  • NAFCU urges legislative action on cyber security

    Pushing for higher standards for retailers
    Hacking and cyber breaches are on the rise and continue to plague various institutions. To help combat this, the National Association of Federal Credit Unions is working with six other financial trade groups to fight for stronger cyber security regulations.
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  • Here's how to stop credit unions from dying

    More than 1,280 institutions gone in five years
    As the government plans for the year ahead, the National Association of Federal Credit Unions’ President and CEO Dan Berger wrote a letter to House and Senate leaders on NAFCU's top legislative priorities of 2016. The letter details the pain points for credit unions that will be a top priority, along with the harsh reality of how regulation is negatively impacting credit unions.
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