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Top 10 INews NowI stories for January
MADISON, Wis. (2/2/10)--A compliance story focusing on a Truth in Savings disclosure requirement for overdraft services led January’s list of the top 10 stories in News Now. The second most-read article spanned the top 10 events that changed credit unions the most in the past decade. Two stories about financial guru Suze Orman touting credit unions in various media outlets also made the list. Orman appeared on Larry King Live and CNN this month, where she further discussed the benefits of being a credit union member. Here are January’s top stories: 10. Bankruptcies up, CUs in ‘maintenance phase’: CUNA MADISON, Wis. (1/6/10)--Personal bankruptcy filings hit 1.41 million last year--an increase of 32% over 2008. And credit unions can expect more chargeoffs during the post-recession, say Credit Union National Association (CUNA) economists. 9. Info on variable rate rules coming, Fed tells CUNA WASHINGTON (1/26/10)--A Federal Reserve representative informed the Credit Union National Association (CUNA) that the Fed is formulating its thoughts on recently introduced variable rate credit restrictions, and expects to provide CUNA with further guidance by the end of this week. 8. Craig's List ad targeting CUs is pulled HARRISBURG, Pa. (1/7/10)--Craig's List has pulled an advertisement that sought to recruit current credit union members to solicit others to join the credit union through them. 7. Suze Orman to Larry King: CUs have great rates WASHINGTON (1/14/09)--Credit unions offer better rates on credit cards, personal finance guru Suze Orman told Larry King on Larry King Live Thursday. 6. ABC features: Switch to CUs NEW YORK (1/12/10)--The media kudos for credit unions continues this time with ABC’s Diane Sawyer Friday noting on ABC’s World News Tonight that many consumers are trading their financial institutions on Wall Street to the ones on Main Street. 5. NCUA session features frank talk on corporate plan WASHINGTON (1/25/10)--At its first town-hall style meeting of the new year, the National Credit Union Administration shared some frank thoughts about its plans to revamp the corporate credit union system. 4. CBS Moneywatch, Suze Orman: Time to join a CU NEW YORK (1/13/10)--It's time to say goodbye to banks and join a credit union, according to CBS Moneywatch.com, which touted credit union's lower fees, better rates and the Credit Union National Association's credit union locator. Also this week on CNN, financial guru Suze Orman encouraged consumers to obtain credit cards from credit unions. 3. Fed issues final CARD Act rules WASHINGTON (1/13/10)--The Federal Reserve Board on Tuesday approved amendments to Regulation Z, Truth in Lending, which implement provisions of the Credit Card Accountability, Responsibility and Disclosure Act of 2009. The rules go into effect Feb. 22. 2. Ten events that changed CUs in the past decade MADISON, Wis., and WASHINGTON (1/5/10)--A decade has ended and in the tradition of newshounds everywhere, the Credit Union National Association's News Now staff took time out to mull the impact the first decade of the 21st century presented credit unions. Staff sniffed out 10 events of the decade that changed the way credit unions operated and their strategies. 1. Compliance: All CUs must report NSF fees monthly WASHINGTON (1/7/10)--Credit unions have inquired whether a new Truth in Savings disclosure requirement for overdraft services applies to institutions that do not offer overdraft protection services to their members but do charge returned-item fees.


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