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Top 10 INews NowI stories for October (11/01/2010)
MADISON, Wis. (11/2/10)--Stories about interchange and compliance dominated October’s list of top 10 stories in News Now. Other stories that made the list were about International Credit Union Day and a husband/wife team convicted of stealing $200,000 from a credit union. October’s top stories are:
10. HELOC scam tapped $220,000 from member’s equity PHILADELPHIA, Pa. (10/20/10)--A lawsuit over coverage of $220,000 of home equity line of credit (HELOC) funds that went missing from a credit union member's account has provided some details on the methods used by international fraudsters in a dozen similar cases in the eastern section of the country. 9. ”Bridge’ corporates ready for business ALEXANDRIA, Va. (10/6/10)--The National Credit Union Administration (NCUA) on Tuesday chartered the two bridge corporate credit unions to assume the operations of now conserved U.S. Central Corporate FCU (US Central) and Western Corporate FCU (WesCorp), completing another vital step in its corporate credit union resolution process. 8. FDIC proposal would broaden overdraft rule’s reach WASHINGTON (10/12/10)--The Federal Deposit Insurance Corp. (FDIC) recently proposed rules that would make state-chartered banks under its jurisdiction go farther in incorporating consumer protections in their overdraft programs than the Federal Reserve's rules dictate. 7. St. Paul Croatian FCU fraud may cost NCUSIF $170M ALEXANDRIA, Va. (10/14/10)--The National Credit Union Administration (NCUA) Office of Inspector General (OIG) revealed today that St. Paul Croatian FCU was catapulted into a liquidation by fraudulent loans, some allegedly masked by the credit union's CEO. 6. Husband/wife team convicted of $200,000 CU theft WORCESTER, Mass. (10/28/10)--A husband and wife have be found guilty of stealing more than $200,000 in 2002 from the Wyman-Gordon FCU, now called W-G FCU, in Worcester, Mass., where the woman worked. 5. Payment protection disclosures cast bad light: CUNA WASHINGTON (10/21/10)--Credit Union National Association (CUNA) President/CEO Bill Cheney this week said that CUNA and CUNA Mutual will be working with credit unions to oppose proposed changes to the Federal Reserve's Regulation Z that would require new disclosures for credit life, credit disability, debt cancellation and debt suspension. 4. Interchange rules unconstitutional, lawsuit charges WASHINGTON (10/12/10)—Decrying Sen. Richard Durbin's (D-Ill.) interchange fee legislation as "unconstitutional," TCF National Bank on Tuesday brought legal action against the Federal Reserve, the agency charged with implementing the law. 3. Compliance: CUNA lays out timeline for ADA-ATM compliance WASHINGTON (10/15/10)--By now, most credit unions have heard about the Department of Justice's (DOJ) update to the accessibility standards governing the construction and alteration of facilities covered by the American with Disabilities Act (ADA). 2. Compliance Challenge: Watch for these NCUA examiner ‘red flags’ WASHINGTON (10/1/10)--With National Credit Union Administration (NCUA) Chairman Debbie Matz earlier this month saying that the NCUA would likely redesign some aspects of its examination process to better interact with the Consumer Financial Protection Bureau (CFPB), credit unions should be sure that they are up to date on NCUA examination practices. 1. Happy International CU Day WASHINGTON and MADISON, Wis. (10/21/10)--It's finally here--the day in which credit unions take note of what they do and celebrate--while honoring those who have made contributions to the global financial cooperative movement.


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