News Now

August 22, 2014

CUs part of CFPB's eClosings pilot program

Washington
Two credit unions have been selected as participants for the Consumer Financial Protection Bureau's mortgage eClosing pilot program, designed to explore how the increased use of technology during the mortgage closing process could affect consumer understanding and engagement. ReadMore

CUNA urges FASB: leave CUs out of credit loss reporting proposal

Washington
CUNA reiterated its "strongest opposition" to a Financial Accounting Standards Board proposal involving credit losses in a letter sent to the board today. ReadMore

Reports stack up on uniform drop in mortgage rates

Market
Several firms that track U.S. mortgage interest rates all reported this week that rates are sliding, with many relaying that mortgage rates have hit their low points for 2014. ReadMore

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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News of the Competition(8)

Market

WASHINGTON (8 22 14) Big banks are being verbally warned by U.S. regulators to shore up their abilities to assess risk and identify weaknesses they might have in their operations, according to

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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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Wyo. CU membership strong at 40% of state population

CU System
The credit union movement continues to celebrate reaching its 100 million memberships milestone, and Wyoming's high concentration of credit union members caught the eye of Wyoming Business Report . ReadMore

Urban youth program gets 'Financially Fit' with Seattle Metro

CU System
A financial literacy program by Seattle Metropolitan CU has gained traction and attention for the benefits it is providing to an urban youth educational group. ReadMore

State OKs Floridacentral CU's bank branch purchase

CU System
Tampa, Fla.,-based Floridacentral CU has received the thumbs up from the Florida Office of Financial Regulation to purchase a branch of the First Federal Bank of Florida, an office spokesperson confirmed to News Now Thursday. ReadMore

CU System briefs (08/22/2014)

CU System

FORT BRAGG, N.C. (8 22 14) Fort Bragg FCU, Fayetteville, N.C., with $390 million in assets, and the USO of North Carolina have teamed up for

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CUNA chief accepts chilly charity challenge

CU System
The Ice Bucket Challenge that's sweeping the nation to raise awareness for Amyotrophic lateral sclerosis continued to make its way through the credit union movement Thursday, as CUNA interim President/CEO Bill Hampel had not one, but two buckets of ice water dumped on his head in Washington, D.C. ReadMore

Look outside narrow window of products for revenue growth: Filene

CU System
There are two sides to every balance sheet, and credit unions that want to remain financially sound now and into the future must start focusing on the revenue side, rather than only cutting back expenditures, according to a recent white paper from Filene Research Institute. ReadMore

UPS latest giant to fall prey to data breach

CU System
Add shipping giant United Parcel Service to the list of merchants that have suffered a data breach that compromised its customers' credit and debit card information. ReadMore

Retirees: GAO finds managed account fees offset gains

Consumer
Any retiree wants the best return on retirement accounts. But trying to achieve strong returns by using managed investment accounts could backfire, according to a new Government Accountability Office report. ReadMore

Inc. taps Symbionce CUSO for fastest-growing list

Products
Symbionce Financial Solutions, a credit union service organization based in New Jersey, was named to Inc. magazine's list of America's fastest-growing private companies. ReadMore
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.@CFPB today finalized changes 2 remittance rule, proposed in April. See rule here: http://t.co/tPs6Mlimni
1 hours ago
State OKs Floridacentral #creditunion's bank branch purchase #NewsNow http://t.co/37uXorWsmV
3 hours ago
Today is deadline to order your T-shirt for #MiracleJeansDay @CU4Kids @CMNHospitals http://t.co/UXIqW3cFN6
3 hours ago
#Creditunion #100MM on display with @NWCUA's Minickiello, Wash. Rep. Sharon Tomiko Santos at @NCSLorg @CUNAadvocacy http://t.co/xVwnS39uEM
4 hours ago
Fraudsters hit @jpmorgan with smash and grab #phishing campaign http://t.co/VEkAvctYLJ
5 hours ago