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July 10, 2014

CUNA, trades seek stronger 'patent troll' defense measures

Washington
As a House Energy and Commerce subcommittee moves forward with a vote on a patent reform bill today, CUNA sent a joint financial trade group letter to urge lawmakers to strengthen its provisions to fight "patent trolls." ReadMore

FATF offers definitions, pros and cons of virtual currencies

Washington
The Financial Action Task Force called virtual currencies both "the wave of the future" and a powerful new tool for criminals to move and store illicit funds, in a paper released last month. ReadMore

Castro confirmed as new HUD secretary

Washington
The U.S. Senate confirmed Julian Castro to become the new head of the Department of Housing and Urban Development Thursday. ReadMore

Monetary policy hearings coming next week

Washington
Federal Reserve Board Chair Janet Yellen is scheduled to deliver the Fed's semiannual monetary policy report to the Senate Banking Committee on Tuesday and then to the House Financial Services Committee on Wednesday. ReadMore

RBC on radar in Chicago today: Listening session audios to be available

Washington
The National Credit Union Administration's second Listening Session of 2014 starts today at 1 p.m. (CT) in Chicago. Both the NCUA and the California and Nevada Credit Union Leagues have announced plans to provide audio clips of this event and two other similar sessions. ReadMore

Sen. committee passes information-sharing cybersecurity bill

Washington
The U.S. Senate Intelligence Committee passed the Cybersecurity Information Sharing Act by a 12-3 vote Wednesday. ReadMore

FOMC minutes: Bond-buying program to end by October

Market
If the U.S. economy sticks to its current pace of growth, the Federal Reserve will retire its asset-purchase program completely in October, according to the minutes from the Federal Open Market Committee's June meeting. ReadMore

News of the Competition (07/10/2014)

Market

WASHINGTON (7 10 14) Citigroup is preparing to fork over $7 billion to end a probe by the U.S. government into whether the big bank earned billions of dollars by defrauding investors with

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Consumer Rates

Market

Daily rates from Informa Research Services for deposit, consumer loan, mortgage, credit card, and indirect auto loan products.

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Business Rates

Market

Get daily financial rates for the last five business days, including Treasury Yield Curve, Treasury Bills, Prime Rate, Federal Funds, Freddie Mac and Fannie Mae 30-day commitments, LIBOR, and 90-day Commercial Paper.

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CU System briefs (07/10/2014)

CU System

ST. LOUIS (7 10 14) ­The St. Louis Post Dispatch 's 90 "Top Workplaces" included four area credit unions , showing that not only are

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Two CUs rake in more than $30K for youth charities

CU System
Children's Miracle Network Hospitals on opposite sides of the country were among the recipients of two credit unions' generosity during recent fundraising campaigns. ReadMore

LSCU ready to support state's adoption of nat'l fin. ed. standards

CU System
It's now mandatory that students in Florida receive at least some training in financial literacy. ReadMore

FAA CU 1st in Okla. to receive Juntos Avanzamos designation

CU System
The Cornerstone Credit Union League has bestowed its Juntos Avanzamos designation on FAA CU, Oklahoma City, with $546 million in assets. ReadMore

NCUF reminds of July 31 Wegner award nomination deadline

CU System
July 31 is the deadline to nominate individuals and organizations for the Herb Wegner Memorial Awards presented by the National Credit Union Foundation. ReadMore

Faces, stories begin to fill 100M membership website

CU System
The newly constructed Membership Map on CUNA's 100 million membership campaign website is beginning to fill up with the faces of credit union members from throughout the country. ReadMore

Shared branching awareness campaign goes national

CU System
A shared branching video created by the Missouri Credit Union Association has developed a growing national audience. ReadMore

Small-biz lending surge of 20% drives Mich. Q1 loan growth

CU System
Michigan's credit unions showed strong growth in the first quarter--buoyed by small-business lending that at $1.7 billion was 20% more than the same period last year. ReadMore

Three league-backed bills await N.Y. gov. signature

CU System
With the support of the Credit Union Association of New York's state-level advocacy efforts, three important pieces of pro-credit union legislation recently passed through both houses of the New York Legislature. ReadMore

Emergency savings bleak? Starting to save is key

Consumer
More than a quarter of Americans do not have an emergency savings account. Of those who do, two-thirds have less than six months' worth of living expenses, according to a Bankrate.com survey. ReadMore

CUNA Mutual loan generation webinar series kicks off July 16

Products
CUNA Mutual Group's Summer Loan Generation Marketing webinar series begins July 16 at 2 p.m. (CT), with a session focused on recapturing auto loans and targeting new opportunities. ReadMore

Sollievo partners with Everbridge on emergency communications

Products
Sollievo, the risk-management credit union service organization of Mid-Atlantic Corporate FCU, Middletown, Pa., has partnered with Everbridge to bring emergency notification and critical communication services to credit unions. ReadMore
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Thanks for following our tweets on the NCUA's #listeningsession.
7 hours ago
RT @IllinoisLeague: Mike Daugherty, CEO, Community Plus FCU: I'd like to you to reconsider your repeated 'No's' #listeningsession #fixRBC h…
8 hours ago
CU says definition of complex CU needs to be reviewed, and not just based on asset size. NCUA: We are looking at that. #listeningsession
8 hours ago
NCUA says lots of resources go 2 examiner training,but there's much turnover.Invites ideas on how to improve exam training.#listeningsession
8 hours ago
CU tells NCUA that more benefit could be gained by better examiner training than imposing this "unnecessary" RBC system at #listeningsession
8 hours ago