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News Now

CU System
Top 10 iNews Nowi stories for September
MADISON, Wis. (10/4/11)--An article about how members of a credit union’s management team can serve only on one board was the most read News Now story in September. Here is a list of the top 10 most-visited stories for the month. 10. Western Bridge members’ service will be uninterrupted--NCUA ALEXANDRIA, Va. (9/2/11)--United Resources FCU’s bid to succeed Western Bridge Corporate FCU fell short of the bridge corporate’s stated capital subscriptions goal of $200 million Wednesday, said the National Credit Union Administration. 9. Equity ratio, net worth changes passed by NCUA ALEXANDRIA, Va. (9/23/11)--Amendments to the Federal Credit Union Act’s definitions of the National Credit Union Share Insurance Fund’s definitions of equity ratio and credit union net worth were unanimously approved by the National Credit Union Administration board on Thursday. 8. BofA debit fee shows interchange cap a blow to consumers: CUNA WASHINGTON (9/30/11)--As most credit unions continue to offer free debit card services, banks are just beginning to apply sometimes hefty fees to the popular service. It was widely reported Thursday that Bank of America has plans to begin charging a $5 monthly fee to some debit-card users--in an attempt to recoup lost revenues caused by the implementation of a statutory cap on debit interchange fees. 7. USA Today: Fee gap between banks, CUs could widen MADISON, Wis. (9/28/11)--The gap between the historically low rates credit unions offer their members and the higher rates big banks charge their customers could become even wider as a result of the new debit interchange fee cap regulations, according to a Tuesday USA Today article. 6. NCUA OIG: Examiners could have eased Certified FCU losses ALEXANDRIA, Va. (9/12/11)--National Credit Union Administration examiners “could have prevented or reduced” losses to the National Credit Union Share Insurance Fund that were caused when Certified FCU failed in 2010 if “swift and appropriate administrative remedies” had been taken, the NCUA's Office of the Inspector General has determined. 5. NCUA prohibits five from future CU work ALEXANDRIA, Va. (9/15/11)--Five individuals have been the subject of recent prohibition orders issued by the National Credit Union Administration and are thereby prohibited from participating in the affairs of any federally insured financial institution. 4. CUNA addressing IRS CU exemption error WASHINGTON (9/16/11)--An assertion by the U.S. Internal Revenue Service that some credit unions are no longer tax-exempt is “completely wrong” and something that the Credit Union National Association (CUNA) will work on tirelessly to set the record straight, inside and outside the credit union movement, CUNA President/CEO Bill Cheney said Thursday. 3. WSJ: Credit unions a better value than banks MADISON, Wis. (9/20/11)--An article in the Sunday edition of The Wall Street Journal touted credit unions as a more affordable option than banks. 2. Visa, MC expected to raise small-purchase fees NEW YORK (9/27/11)--Visa Inc. and MasterCard Inc. plan to increase the fees merchants pay for small-ticket debit purchases to the full amount allowed under the Federal Reserve's new rules that take effect Oct. 1, said analysts interviewed by Bloomberg News and The Wall Street Journal (Sept. 23) . The move could discourage some merchants from accepting debit cards for small transactions. 1. CU execs must serve only one board, NCUA says ALEXANDRIA, Va. (9/12/11)--The National Credit Union Administration’s (NCUA) management official interlocks rule prohibits members of a credit union’s management team from serving other nonaffiliated depository organizations, NCUA Associate General Counsel Hattie Ulan said in an agency legal opinion.


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Credit card issuers could see a reduced burden for 1 year under a @CFPB proposal issued this week. News Now: http://t.co/CYVXLUmVBq
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