MADISON, Wis. (6/5/13)--Two articles about how credit unions were affected by a tornado that devastated Moore, Okla., were the most-read News Now
articles in May.
The top 10 articles for the month:10. Udall Reintroduces Bill To Increase CUs' MBL Cap
WASHINGTON (5/16/13)--Sen. Mark Udall (D-Colo.) today reintroduced legislation that would increase the credit union member business lending cap to 27.5% of assets, from the current 12.25%-of-assets level.9. CUNA to CFPB: Avoid One-size-fits-all Payday Regs
WASHINGTON (5/3/13)--While oversight of largely unregulated, predatory payday lenders and their products is overdue, the Consumer Financial Protection Bureau must take steps to avoid crafting one-size-fits-all regulations that would harm credit unions as it addresses payday loan issues, the Credit Union National Association said in a Thursday letter to CFPB Director Richard Cordray.8. Calif. DFI Warns CUs About Ads' FOM Language
SACRAMENTO, Calif. (5/14/13)--The California Department of Financial Institutions issued a warning about credit unions using certain language about their fields of membership in their advertising.7. Ways and Means Releases Working Group Tax Reform Report
WASHINGTON (5/7/13)--A 550-plus page report on tax policy reform created by 11 House Ways and Means working groups and delivered to the Joint Committee on Taxation Monday mentions the credit union tax exemption, as expected.6. CFPB Proposes CUNA-sought Credit Rule Delay
WASHINGTON (5/8/13)--The Consumer Financial Protection Bureau has favorably responded to the Credit Union National Association's recent request that the agency delay a June 1 effective date relating to the prohibition on financing certain credit insurance charges. The provision is contained within the bureau's mortgage loan originator compensation rule.5. NCUA Releases CU Derivatives Program Proposal
ALEXANDRIA, Va. (5/16/13)--Well-run federal credit unions would be permitted to use simple derivatives to hedge against interest rate risks under a just-proposed National Credit Union Administration program.4. Final CFPB Remittance Rule Is Effective Oct 28
WASHINGTON (5/1/13)--Oct. 28 will be the effective date for the Consumer Financial Protection Bureau's final remittance regulations, the bureau announced Tuesday.3. 'Don't Tax My CU' Campaign Mobilizes 96 Million Members
WASHINGTON (5/16/13)--The Credit Union National Association and its affiliated state credit union leagues have launched a large-scale, nationwide grassroots-mobilization campaign urging America's 96 million credit union members to deliver a united message to the U.S. Congress: "Don't tax my credit union!"2. Oklahoma League On Tornado: 'We're Prepared To Get Through This'
OKLAHOMA CITY, Okla. (5/22/13)--Three credit unions in Moore, Okla., saw different outcomes when Monday's EF5 tornado swept through with 200 mile-per-hour winds that leveled thousands of homes and businesses in an area as much as two miles wide and 17 miles long.1. Tinker FCU Branch Destroyed, Assisting Staff And Members
OKLAHOMA CITY, Okla. (5/22/13)--For nearly two dozen staff and members of Tinker FCU's branch in Moore, Okla., Monday afternoon had its moment of reckoning. A half-mile wide tornado bore down on the branch and they took cover in the credit union's safe deposit box vault. After it was over, they were safe and sound, and the only thing left standing was the vault.