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July 31, 2014

NEW: Some relief proposed for NCUA's fixed-asset management rule

ALEXANDRIA, Va. (7/31/14, UPDATED 10:34 a.m. ET)--As National Credit Union Administration Chair Debbie Matz said it would earlier this month, the agency just approved a proposal for comment that would allow federal credit unions to manage their own fixed-asset purchases without having to seek supervisory permission or waivers. ReadMore

Senators introduce more reg relief for CUs, small banks

Washington
U.S. Sens. Angus King (I-Maine), Deb Fischer (R-Neb.), Mark Warner (D-Va.), and Jon Tester (D-Mont.) unveiled new legislation Wednesday intended to provide immediate regulatory relief for America's credit unions and community banks. ReadMore

HELOC reporting burden unjustified, CUNA tells CFPB

Washington
With an eye toward reducing regulatory burden on credit unions, CUNA has sent a letter to the Consumer Financial Protection Bureau outlining several concerns with the bureau's proposed changes to Home Mortgage Disclosure Act rules. ReadMore

Two bills with CU relief approved by House panel

Washington
The House Financial Services Committee passed two more regulatory relief bills that were held over for a recorded vote from Tuesday's hearing ReadMore

House passes SAFE enhancement, cyber protection acts

Washington
The House passed the SAFE Confidentiality and Privilege Enhancement Act (H.R. 4626) and the National Cybersecurity and Critical Infrastructure Protection Act of 2014 (H.R. 3696) this week. ReadMore

Fed continues easing, stands pat on interest rates

Market
WASHINGTON (7/30/14)--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 and stand pat on interest rates. ReadMore

World Council speakers advise on young adult membership strategies

CU System
Credit unions' challenges worldwide are more similar than ever before, including young adult membership growth, which drives the demand for credit unions to provide competitive mobile and digital payment systems, according World Council of Credit Unions President/CEO Brian Branch who spoke Monday at his group's World Credit Union Conference here. ReadMore

Fixed-asset cap, mid-year budget on today's NCUA agenda

Washington
Elimination of the 5% fixed-asset cap and a mid-year operating budget report highlight today's monthly National Credit Union Administration board meeting. ReadMore

30 days added to CFPB complaint narrative comment period

Washington
The Consumer Financial Protection Bureau received a number requests for a longer comment period on its recent proposal to allow consumers to include narratives along with complaints posted to the bureau's database and the CFPB has pushed the deadline out by one month. ReadMore
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News Now LiveWire
.@TheNCUA revised budget is down by $1.1 mil for year ending Dec 31, 2014. That brings total revised budget to $266,920,296.
13 minutes ago
.@TheNCUA says it will update it NCUA Guaranteed Notes (NGA) report on its website in October.
18 minutes ago
Also carved out from the @TheNCUA fixed-asst plan, CUs with less than $1 million in assets.
52 minutes ago
Fixed-asst rule relief would not apply to federally insured, state-chartered credit unions.
1 hours ago
.@TheNCUA Ch Matz says intent is to allow CUs to manage fixed assets without NCUA "micromanaging" the purchases of fixed assets.
1 hours ago