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Top 10 INews NowI stories for July
MADISON, Wis. (8/4/09)--Here are the top 10 most requested News Now stories during July. Use the links to read the stories online. 10. CUNA pursues CARD Act compliance solutions WASHINGTON (7/30/09)--CUNA continues its efforts to address what is for credit unions a troublingly short compliance framework for new Federal Reserve Board rules implementing the Credit Card Accountability, Responsibility and Disclosure (CARD) Act. 9. Fed addresses CARD Act compliance problem WASHINGTON (7/16/09)--The Federal Reserve Board Wednesday issued an interim final rule under the Credit Card Accountability, Responsibility and Disclosure (CARD) Act and included supplementary information that addresses a problem regarding sending out statements 21 days before a payment is due. 8. CUNA sets July 28 audio call on CARD Act notice provision WASHINGTON (7/20/09)--On July 28 at 1:30 p.m. (ET), the Credit Union National Association (CUNA) will hook up interested credit union representatives with financial industry experts who will address concerns about a 21-day notice period under the Credit Card Accountability, Responsibility and Disclosure (CARD) Act. 7. Two more file suits on CUNA Mutual’s credit disability RAPID CITY, S.D., and GREENVILLE, S.C. (7/10/09)--Two more credit union members have filed suits against CUNA Mutual Group and CUNA Mutual Insurance Society regarding credit disability benefits. 6. GM, Chrysler CU discounts to continue through year-end LANSING, Mich. (7/13/09)--General Motors and Chrysler credit union member discounts as part of the "Invest in America" program will continue through the end of the year, the Michigan Credit Union League announced Thursday. 5. Class action suit filed against CU over investments MIAMI (7/7/09)--Attorneys for a Florida woman have filed a class action lawsuit against a Boca Raton-based credit union and four individuals that alleges they lost millions of dollars by investing in a now-defunct company that the suit terms was "a bucket shop rife with fraud." 4. Pope’s financial crisis encyclical cites CUs, love MADISON, Wis. (7/10/09)--Love and credit unions function in the same manner, said Pope Benedict XVI Tuesday in his third encyclical, "Charity in Truth," which focused on the economy, business and finance. 3. Fed explores big Reg Z changes WASHINGTON (7/24/09)--The Federal Reserve Board has proposed several major changes to Regulation Z (Truth in Lending) that would modify the disclosures required of lenders for closed-end mortgage loans and home equity lines of credit. 2. Four CUs hit by insider embezzlement schemes MADISON, Wis. (7/10/09)--Credit unions experienced a rash of insiders accused or convicted of embezzlement schemes this week. Four incidents involved a manager of a defunct credit union, a branch manager who also is a pastor, a loan officer and a clerk. The amounts taken totaled nearly $1.7 million. 1. Longer compliance time needed on CARD Act provision: CUNA WASHINGTON (7/8/09)--The Federal Reserve Board must give credit unions more time to comply with a provision of its expected rules to implement new credit card statutes if that provision is going to apply beyond credit cards, CUNA urged the federal regulator Tuesday.


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