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October 22, 2014

Watt announces changes to Representation and Warranty Framework

Washington
Mortgage lenders soon will be provided with more certainty about requirements for covering losses on loans sold to Fannie Mae and Freddie Mac, according to Federal Housing Finance Agency Director Mel Watt. Speaking at a Mortgage Bankers Association convention in Las Vegas Tuesday, Watt outlined upcoming revisions and clarifications to the agency's Representation and Warranty Framework. ReadMore

Regulators approve final QRM rule

Washington
Federal regulators Tuesday approved a final qualified residential mortgage (QRM) rule, which requires investment banks to hold at least 5% of a loan's risk on their books when securitizing loans unless the loans meet the definition of a QRM. ReadMore

Staples investigates possible breach

CU System
Staples Inc. is investigating a possible breach of payment card data, the company announced Monday. ReadMore

Bank disgust not only factor driving CU millennial membership: Inc.

CU System
It might be easy to state that millennials don't like big banks, Vince Passione, columnist for Inc. magazine wrote in a recent article, given that polls show a handful of the largest U.S. banks consistently rank at the top of the generation's most-hated brands. ReadMore

CUNA Attorneys Conference: Existing regs apply to social media activity

Washington
Credit unions need to "get their arms around" where all social media is coming from within the organization, according to a panel discussion held Tuesday at the CUNA Attorneys Conference. ReadMore

Muzzle POODLE vulnerability by updating browsers, SilverSky advises

CU System
Keeping operating systems and browsers up to date is key to protecting credit unions and members against a new security vulnerability discovered last week. ReadMore

CUs get good 1st report card on liquidity rule implementation: NCUA Report

Washington
The October edition of The NCUA Report , the National Credit Union Administration's monthly newsletter, examines the 12 months since the agency passed its liquidity rule. ReadMore

NCUF honors Schumacher with Wegner award

CU System
In recognition of a career that included stints with the Credit Union National Association, state leagues, a credit union service organization, and as the top executive of a credit union, the National Credit Union Foundation will recognize Bob Schumacher, retired president/CEO, MountainCrest CU, as the recipient of a 2015 Herb Wegner Memorial Award for Lifetime Achievement. ReadMore
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.@TheNCUA says late 2Q Call Report filers 2 pay total of $17,111 in penalties.Individual penalty range is $52 to $1,824;median is $256. 2of2
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All 44 #CUs subject to civil money penalties 4 late filing their 2Q Call Reports have consented to those penalties, says @TheNCUA 1of2
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Full text of @DuchessCornwall's #ICUDay speech: 'a cause worth championing' http://t.co/UNNJa0uBSS
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#Bank disgust not only factor driving #creditunion millennial membership: Inc. http://t.co/sHnjhQwDKc
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#NewsNow Regulator says large banks could face downsizing for ethics gaps http://t.co/B8SMd0RCNr
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