News Now

July 30, 2014

NEW: Fed stays course on taper, interest rates

WASHINGTON (7/30/14 UPDATED 2:45 PM ET)--Citing "sufficient underlying strength in the broader economy to support ongoing improvement in labor market conditions," the Federal Open Market Committee announced Wednesday it will continue the pace of its quantitative easing program. ReadMore

Information is key to disclosure integration, CUNA tells CFPB

Washington
In a stakeholders' check-in meeting on a rule to integrate separate mortgage disclosures rules into a single, more consumer-friendly document, CUNA urged the Consumer Financial Protection Bureau to consider three things with respect to its regulatory implementation. ReadMore

Colfax Capital Corp. required to give $92M in debt relief

Washington
The Consumer Financial Protection Bureau and attorneys general from 13 states have obtained approximately $92 million in debt relief on behalf of 17,000 consumers harmed by predatory lenders. ReadMore

CUNA to NCUA: Reg reduction for CUs is urgent

Washington
Significant reduction in credit unions' regulatory requirements is urgently needed, CUNA interim President/CEO Bill Hampel said in a letter to National Credit Union Administration Chair Debbie Matz yesterday in advance of the agency's board meeting Thursday. ReadMore

House panel members pledge to work for CU parity, also pass reg. relief bill

Washington
The House Financial Services Committee examined a number of regulatory relief bills Tuesday, and of the three supported by CUNA, one was passed and the other two will go to a recorded vote this morning. ReadMore

Fannie, Freddie G-fee comment deadline pushed back to Sept. 8

Washington
September 8 is the new deadline for comments on the Federal Housing Finance Agency's proposed increases to guarantee fees that Fannie Mae and Freddie Mac charge lenders. ReadMore

Julian Castro sworn in as 16th HUD secretary

Washington
Julian Castro was sworn in as the 16th secretary of the U.S. Department of Housing and Urban development Monday. ReadMore

CUNA's Schenk discusses rising consumer confidence on 'TheStreet'

Market
CUNA's interim Chief Economist Mike Schenk appeared on the online investment show "TheStreet" Tuesday to discuss a recent surge in consumer confidence. 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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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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News of the Competition (07/30/2014)

Market

WASHINGTON (7 30 14) This year's summer issue of the Federal Deposit Insurance Corp.'s (FDIC) Supervisory Insights includes an

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FOMC preview: All eyes on rate-hike forecast

Market
When the Federal Open Market Committee wraps up its meeting today, most will be looking for clues about when, and by how much, the central bank will start raising short-term interest rates from their longstanding near-zero levels. ReadMore

Minnesota league celebrates 10-year relationship with Paraguayan CUs

CU System
The Minnesota Credit Union Network recently celebrated the 10-year anniversary of its relationship with Paraguayan credit unions. ReadMore

MasterCard exec: CUs 'formidable' competitors

CU System
Credit unions made the most of their reputation for trust with consumers during the financial crisis, strengthening their credit card portfolios and establishing themselves as "formidable" competitors to big banks, a MasterCard executive said in an interview with pymnts.com. ReadMore

Global Women's Leadership Forum speaker: 'People value authenticity'

CU System
The 2014 Global Women's Leadership Forum, held in partnership with Australian Women in Mutuals during World Council of Credit Union's World Credit Union Conference, included research presented by keynote speaker Louise Mahler about strengthening women's verbal and nonverbal communication skills. ReadMore

2014 World Credit Union Conference opens in Australia

CU System
An international flag parade with bearers clad in their national colors can only signal the start of one thing in the credit union world: The start of the year's World Credit Union Conference. ReadMore

CUNA to host Twitter chat to boost CU awareness

CU System
Pull up a chair Thursday for a national conversation about the credit union movement, right from your office or living room. ReadMore

Moebs study: FIs rethink overdraft, CUs still most reasonable

CU System
Competitive and regulatory pressures are causing financial institutions to rethink their overdraft fee structures. Within an extensive report, the author includes information that describes how credit unions remain the most reasonable financial institutions in forgiving members for overdrafts. ReadMore

Budget for winter holidays in July

Consumer
Pondering Christmas in July is a good idea if it gets you saving. ReadMore

Diebold introduces anti-skimming card reader

Products
Diebold Inc.'s new ActivEdge card reader is designed to thwart criminals' ability to capture automated teller machine (ATM) users' card data. ReadMore
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News Now LiveWire
Now up on News Now: Fed stays course on taper, interest rates http://t.co/6DntsW58vA
1 hours ago
Positive performance indicators and the potential for rising interest rates in @TheNCUA 's latest economic update. http://t.co/yptPbIGvnU
4 hours ago
The @CFPB has launched a nationwide effort to provide financial education. http://t.co/sF3FXHpv3k
5 hours ago
See @CUNA's @SchenkMike on TheStreet discussing a new surge consumer confidence http://t.co/SqjarTBLCQ
5 hours ago
.@CFPB pushes back cmmt deadline on proposal to allow consumer narratives in complaints database--now 9/22, was 8/22. http://t.co/mHLlRVjEij
6 hours ago