News Now

September 23, 2014

14M apps, 2.8M purchases highlight 2013 mortgage data

Washington
Data on mortgage lending at 7,190 financial institutions covered by the Home Mortgage Disclosure Act has been released by the Federal Financial Institutions Examination Council. ReadMore

GAO wary of CFPB data collection controls

Washington
The Government Accountability Office released a report Monday citing concerns that the Consumer Financial Protection Bureau must take additional efforts to reduce the risk of improper collection, use and release of consumer financial data. ReadMore

World Council: Basel 'weak bank' guidelines could work against co-ops

Washington
The World Council of Credit Unions has outlined several concerns with draft supervisory guidance from the Basel Committee that could discriminate against cooperative institutions when the committee identifies "weak banks." ReadMore

Fannie, Freddie consider VantageScore for alternate credit model

Washington
Fannie Mae and Freddie Mac are studying an alternative credit scoring mode to the current Fair Isaac Corp. score, according to a report in National Mortgage News . ReadMore

CFPB CU Advisory Council meeting set for Oct. 1 in D.C.

Washington
A meeting of the Consumer Financial Protection Bureau's Credit Union Advisory Council will be held Oct. 1 in Washington, D.C. ReadMore

CUNA cites accuracy concerns with CFPB's consumer narrative proposal

Washington
CUNA does not support the disclosure of narrative complaint data, the organization told the Consumer Financial Protection Bureau in a letter filed Monday. ReadMore

Aug. activity index goes negative: Chicago Fed

Market
A key measure of economic activity declined in August after months of consecutive growth, according to a report released Monday. 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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Cash purchases decline, weakening existing-home sales

Market
Weak demand from investors caused home sales to decelerate in August, according to a National Association of Realtors report published Monday. ReadMore

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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Lt. gov. shares CU story at N.J. convention

CU System
New Jersey State Lt. Gov. Kim Guadagno received her first car loan at a credit union, and she understands the members-first philosophy. ReadMore

CU System briefs (09/23/2014)

CU System

WICHITA, Kan. (9 23 14) On Monday, the Kansas Credit Union Association (KCUA) officially moved into its new offices at the address of 2544 N. Maize Court, Suite 100, Wichita, KS 67205.

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Iowa league's affiliates among top state workplaces

CU System
Credit unions continue to strengthen their reputation as good places to work, as two credit unions and the Iowa Credit Union League's affiliate group were named to The Des Moines Register Top Workplaces for 2014. ReadMore

Hope FCU 'exceptional' in minority service: GOBankingRates.com

CU System
A credit union was recently featured in a GOBankingRates.com article that discussed a handful of financial institutions stepping up to serve underserved minority communities. ReadMore

Va. league breaks ground on new HQ

CU System
Virginia Credit Union League board members sank shovels into dirt last week to ceremonially begin construction on the league's new headquarters in downtown Richmond, Va. ReadMore

White House honors N.M. CU employee for Hispanic fin. lit.

CU System
Shana Runck is both a credit union employee and a teacher, and it's the marriage of those two roles that earned her recognition by the White House Monday as a Latino Champion of Change. ReadMore

Northwest FCU Foundation celebrates Night of Magic

CU System
More than 100 patients receiving care at Inova Children's Hospital in Falls Church, Va., attended the Night of Magic Ball--an event sponsored by the Northwest FCU Foundation that giving chronically ill patients and their families an evening away from the stresses of being in the hospital. ReadMore

Service CU leadership sees results of member biz loan

CU System
The leadership team at Service CU saw first-hand the results of one of its member business loans when it toured the 30,000-square-foot NCS Global building located in the Granite State Business Park, Rochester, N.H. ReadMore

Use your gift cards, avoid wasted money

Consumer
When you give someone a gift card, there's a good chance at least a portion of your gift will go unused. ReadMore

Buzz Points signs Alcoa Tenn FCU

Products
Alcoa Tenn FCU, with $185 million in assets, has selected the Buzz Points merchant-funded loyalty program for its members. ReadMore
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