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News Now

CU System
Top 10 iNews Nowi stories for June (07/04/2011)
MADISON, Wis. (7/5/11)--Regulatory and compliance issues dominated News Now's monthly top 10 stories list for June. The stories are: 10. Two small CUs placed into conservatorships ALEXANDRIA, Va. (6/28/11)--Just two-and-a-half weeks after issuing a cease-and-desist order to the $7 million-asset credit union, the National Credit Union Administration (NCUA) assumed control of Borinquen FCU of Philadelphia on Friday. 9. CUNA Reg CC changes could spike compliance costs WASHINGTON (6/6/11)--A Federal Reserve proposal to amend Regulation CC to increase next business day availability and encourage electronic check processing and returns "would substantially increase fraud-related and compliance costs if adopted," the Credit Union National Association said in a Friday comment letter. 8. Fed to consider final interchange rule June 29 WASHINGTON (6/22/11)--The Federal Reserve Board Tuesday announced it will consider a final rule to implement a statutory cap on debit card interchange fees at an open meeting on Wednesday, June 29. 7. CUNA delves into corporate fund prepayment issues WASHINGTON (6/14/11)--The National Credit Union Administration (NCUA) continues to evaluate credit union interest in its proposal to allow credit unions to prepay some of their corporate credit union stabilization fund assessments, and NCUA Deputy Director Larry Fazio on Monday said that whether or not a given credit union participates in the plan would not affect its NCUA examination or treatment by examiners. 6. CUNA: Strong Senate support can be used to shape interchange rule WASHINGTON (6/10/11)--Credit Union National Association President/CEO Bill Cheney said the Senate clearly acknowledged with its 54-45 vote Wednesday that there are issues with the debit card interchange fee cap that need to be examined before a rule goes into effect. 5. Compliance: What to know about Reg Z changes WASHINGTON (6/24/11)--CompBlog, the Credit Union National Association's newest addition to its electronic information toolshed for members, has started a conversation about what credit unions should focus on in the changes the Federal Reserve made this spring to its Regulation Z. 4. Fed final interchange rule reflects CU input, Cheney says WASHINGTON (6/30/11)--Credit Union National Association (CUNA) President/CEO Bill Cheney said that the Federal Reserve "listened to the real concerns of credit unions" as it developed its final debit interchange fee cap rule, which was approved by a 4 to 1 vote by the Fed on Wednesday. 3. Gen Y and the future of CUs SAN ANTONIO (6/23/11)--Young credit union professionals educated a mostly over-40 crowd about nurturing young talent in their credit unions, dispelling a few myths about Generation Y workers during a Discovery breakout session Tuesday afternoon at America's Credit Union Conference & Expo in San Antonio. 2. CU efforts intensify at Fed as interchange delay fails in Senate WASHINGTON (6/9/11)--Credit Union National Association (CUNA) President/CEO Bill Cheney said Wednesday that the U.S. Senate's failure to delay implementation of the Federal Reserve's debit card interchange fee cap is deeply disappointing and CUNA and credit unions will continue pressing the Federal Reserve to improve the proposed rule to minimize negative effects on credit unions and their members. 1. Supreme Court to look at RESPA case WASHINGTON (6/27/11)--Credit unions will want to be aware of last week's U.S. Supreme Court decision to hear a Real Estate Settlement Procedures Act--or RESPA--class action case that involves title insurance.


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