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INews NowI Top 10 stories for February
MADISON, Wis. (3/2/11)--National Credit Union Administration plans, financial literacy requirements for credit union directors and interchange dominated the News Now top 10 stories list for February. The stories are: 10. Social media gets new focus at NCUA ALEXANDRIA, Va. (2/7/11)--The National Credit Union Administration (NCUA), known already to "tweet" on Twitter, is enhancing its outreach through social media and has brought on a new employee to lead the charge. 9. Fed announces start of NMLS WASHINGTON (1/31/11)--The Conference of State Bank Supervisors' (CSBS) Nationwide Mortgage Licensing System & Registry (NMLS) has been upgraded to allow banks and credit unions to register their mortgage loan originators (MLOs), and became fully active earlier today. 8. NCUA compensation plan must address CU concerns: CUNA WASHINGTON (2/14/11)--As the National Credit Union Administration (NCUA) prepares to look at executive compensation rules later this week, the Credit Union National Association (CUNA) is urging the agency to consider credit unions' significant concerns before issuing any proposal. 7. Directors' fin. lit. requirements may be extensive WASHINGTON (2/24/11)--Larger, more complex federal credit unions may need to demonstrate a higher level understanding of financial risk to be in compliance with the National Credit Union Administration's (NCUA) newly adopted director fiduciary duties rule, Credit Union National Association (CUNA) Senior Vice President of Compliance Kathy Thompson has said. 6. CUNA: Two-year delay needed for interchange study WASHINGTON (2/23/11)--The U.S. Congress intended that small debit card issuers be protected from the rate regulations in the interchange law yet the Federal Reserve Board's implementation proposal fails to accomplish that goal, the Credit Union National Association (CUNA) said in its comment letter to the Fed filed yesterday. CUNA was commenting on the board's proposal to implement the interchange provisions of the Dodd-Frank Act. 5. House hearing hints of interchange rule delay WASHINGTON (2/18/11)--Several legislators called for a delay of implementation of the Federal Reserve's interchange fee proposal during a Thursday House financial institutions and consumer credit subcommittee hearing. Also prompting legislator concern about the impact on small issuers were comments from a Fed governor and earlier remarks by the Fed's chairman, as well as testimony from the Credit Union National Association's (CUNA) witness. 4. Oakland Municipal is first CU closing of 2011 ALEXANDRIA, Va. (2/7/11)--On Friday, the National Credit Union Administration (NCUA) was appointed liquidating agent of Oakland Municipal CU, of Oakland, Calif., by the state's Department of Financial Institutions (DFI). It was the first liquidation of a federally insured credit union in 2011. 3. NCUA details fin lit requirements for FCU directors ALEXANDRIA, Va. (2/8/11)--The National Credit Union Administration (NCUA) in its letter to federal credit unions No. 11-FCU-02 sought to remind federal credit union directors of specific financial literacy requirements that will become effective later this year as well as their general responsibilities as credit union leaders. 2. Fed ends development of three Reg Z mortgage rule changes WASHINGTON (2/2/11)--The Federal Reserve Tuesday announced that it would halt work toward finalizing three pending mortgage rulemakings under Regulation Z. Credit Union National Association (CUNA) President/CEO Bill Cheney had asked the Fed to drop these proposals and impose a moratorium on any further rulemakings on issues that will be under the authority of the Consumer Financial Protection Bureau as of July 21, 2011. 1. 2011 NCUSIF premium not a definite ALEXANDRIA, Va. (2/22/11)--The National Credit Union Administration said it may not need to assess a National Credit Union Share Insurance Fund (NCUSIF) premium on credit unions in 2011.


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