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News Now

January 29, 2015

CUNA seeks answers from NCUA on IOLTA bill questions

Washington
The passage of the Credit Union Share Insurance Fund Parity Act has raised a number of questions from credit unions about its potential applications, questions summarized by CUNA in a letter to the National Credit Union Administration Wednesday. ReadMore

New privacy notice bill introduced with CUNA support

Washington
A bill that would change annual privacy notice requirements for certain financial institutions was introduced Wednesday by Reps. Blaine Luetkemeyer (R-Mo.) and Brad Sherman (D-Calif.). ReadMore

N.Y. league ready to press for data security with AG's bill

CU System
The New York Credit Union Association is closely following a proposed overhaul of the state's data security law that could hold companies to new standards in protecting consumers' personal data. ReadMore

CUs, members share breach stories with media

CU System
Data breaches may not always occur at massive retailers such as Target or Home Depot, but that doesn't dampen the serious effect all breaches have on financial institutions and consumers. ReadMore

CUNA, trades outline principles to Congress for combating 'patent trolls'

Washington
The U.S. Congress must act to combat abusive patent demand letters, and a letter from financial trade associations--including CUNA--sets out the principles needed to take action against "patent trolls." ReadMore

Apple Pay interest booming at CUs, Western Union joins

CU System
With Apple Pay accounting for two out of every three dollars processed through contactless payment systems, Apple CEO Tim Cook said Tuesday he is "more confident than ever 2015 will be the year of Apple Pay." ReadMore

FOMC still in holding pattern on Fed funds rate

Market
Given the opposing forces of a strengthening job market and weakening inflation, the Federal Open Market Committee Wednesday made no substantial changes to forward guidance on when it will raise short-term interest rates from their near-zero levels. ReadMore
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