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News Now

December 29, 2014

NCUA sues Wells Fargo as trustee of mortgage-backed securities

Washington
The National Credit Union Administration has filed a lawsuit suit in federal court against Wells Fargo Bank, National Association, alleging the bank has failed to fulfill its duties as trustee for 27 residential mortgage-backed securities trusts. ReadMore

Supervisory letter from NCUA provides MSB guidance

Washington
The National Credit Union Administration has sent a supervisory letter to federally insured credit unions that provides guidance on dealing with money services businesses. ReadMore

Lutheran FCU in Mo. chartered by NCUA, 3rd new FCU of 2014

Washington
Missouri-based Lutheran FCU has become the third new federally chartered credit union of 2014, the National Credit Union Administration announced last week. ReadMore

Maine Harvest aims to help small farmers, CUs

CU System
A credit union may soon be established in Maine for the first time in a quarter-century and, should it come to fruition, not only will it provide financing to small farmers and the local food economy, it may help other Maine credit unions do so as well. ReadMore

NCUA issues cease-and-desist order to New Bethel FCU

Washington
A cease-and-desist order has been issued to New Bethel FCU, Portsmouth, Va., by the National Credit Union Administration, the agency announced last week. ReadMore

Signature debit highest cause of FI fraud losses: Minn. Fed

CU System
The amount of payments fraud and the losses incurred continue to concern financial institutions and non-financial firms alike, according to the recently released 2014 Payments Fraud Survey from the Federal Reserve Bank of Minneapolis. ReadMore

Real GDP jumps unexpected 5% in 3Q

Market
U.S. GDP growth surged by 5% in the third quarter, according to the third and final estimate by the Bureau of Economic Analysis. ReadMore

CU Direct's 20 for 20 brings $60K to 6 CMN Hospitals

CU System
The votes are in and two Children's Miracle Network Hospitals will receive $20,000 from CU Direct as part of its 20 for 20 campaign to celebrate 20 years of serving the credit union industry. ReadMore
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#Creditunions NOT among most disliked companies of 2014, says @MarketWatch http://t.co/N1lMHMFkjL
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.@KearneyFCU in-school branch at Emerson Elementary School one of top education stories in Kearney NE in 2014 http://t.co/4riZWhV1Fn
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Maine Harvest credit union project aims to help small farmers, #creditunions #NewsNow http://t.co/JyHUnS4Oja
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Interchange update: Google sues MasterCard, Visa for 'supracompetitive' fees http://t.co/pHK19qdX8H
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.@TheNCUA supervisory letter provides MSB guidance #NewsNow http://t.co/ZOhp6nfOKw
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