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April 24, 2014

NEW: NCUA approves modified stress test rules

ALEXANDRIA, Va. (4/24/13, UPDATED 11:27 a.m. ET)--The National Credit Union Administration made changes today before adopting its rule on stress tests for larger credit unions, some of which CUNA recommended--if the agency even went forward with the rule CUNA argues is just not needed. ReadMore

Major changes needed if NCUA stress-testing rule advances: CUNA

Washington
While CUNA is opposed the capital planning and stress-testing proposal issued by the National Credit Union Administration in December, it urged the agency to include significant changes if the board votes to adopt the rule in final form today. ReadMore

CUNA ready to raise QM issue in latest high-level housing finance reform meetings

Washington
CUNA participated in high-level housing finance reform discussions in New York City and Washington, D.C. Wednesday, representing credit union views as a vote on a draft Senate Banking Committee bill nears. ReadMore

CFPB reported to be considering changes to QM loan fees

Washington
The Consumer Financial Protection Bureau is expected to ease its rules setting fees for Qualified Mortgage loans, as defined under the bureau's Ability-to-Repay rules, American Banker reported Wednesday. ReadMore

CommunityAmerica helps members build savings safety net

CU System
As a way to help its members develop ever-important emergency savings, $1.8 billion-asset CommunityAmerica CU is offering an interest rate nearly 34 times higher than the national average on one of its savings accounts. ReadMore

Data breaches could have been avoided: Verizon report

Washington
A new Verizon data security report reveals that many point-of-sale breaches could be prevented by taking basic security enhancement steps. ReadMore

CU CEO part of Minn. elder fin. abuse press conference

CU System
Minnesota's Department of Commerce recently released first-of-its-kind guidance on privacy laws regarding elder financial abuse, and a credit union CEO was on stage for Tuesday's news conference on the subject. ReadMore

Mass. latest to examine Experian data breach

CU System
Yet another state has launched a probe into a data breach involving the credit-reporting company Experian Plc, an incident that led to the exposure of about 200 million Social Security numbers. ReadMore

CU Magazine wants your vote for CU Hero

CU System
Voting for Credit Union Magazine 's 2014 Credit Union Hero of the Year is open until May 1. ReadMore
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News Now LiveWire
.@TheNCUA approves modified stress test rule. Read #NewsNow here: http://t.co/RSZh59Ukkj
41 minutes ago
NCUA Ch. Matz said the FOM proposal is the result of enforcement actions taken where CUs advertised open FOMs.
1 hours ago
.@TheNCUA wants to know if there are other categories that should get automatic approval, staff says.
1 hours ago
Alumni,homeowner assoc,labor unions, electric coops,scouting & church groups,assn. to further culture of nt'l or ethnic group are auto OKed.
1 hours ago
Corporate separateness also would be required under FOM proposal. Separate physical location from FCU too.
1 hours ago