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August 27, 2014

NEW: McWatters: Reg. relief, rulemaking analysis among top priorities

ALEXANDRIA, Va. (8/27/14, UPDATED 10:30 a.m. ET)--J. Mark McWatters, the newest National Credit Union Administration board member, wasted no time in releasing his top priorities for the agency. One day after his swearing-in ceremony, he names regulatory relief, transparency, accountability, supporting low-income credit union members and promoting greater industry diversity as among items high on his list. ReadMore

CUNA congratulates McWatters on taking his NCUA board seat

Washington
With J. Mark McWatters having been sworn in as the newest member of the National Credit Union Administration board Tuesday, CUNA immediately welcomed him and outlined a number of credit union system developments it hopes to work on with him. ReadMore

'Minnesota Minded:' Membership message hits the road

CU System
The Minnesota Credit Union Network Monday introduced "Minnesota Minded," a report about the growth Minnesota credit unions have experienced since the financial crisis. ReadMore

Bankrate cites Schenk on 100M membership reach

CU System
A Bankrate.com article cited credit unions' 100 million membership milestone and highlighted the growth of cooperative financial institutions since the financial crisis. CUNA interim Chief Economist Mike Schenk was interviewed for the article. ReadMore

Castro seeks improved quality assurance for FHA programs

Washington
U.S. Housing and Urban Development Secretary Julian Castro addressed ways to balance serving homebuyers while managing risk for the Federal Housing Administration. ReadMore

FHA to ban prepayment 'penalties' beginning next year

Washington
Starting with mortgages insured by the Federal Housing Administration on Jan. 21, 2015, and beyond, borrowers who prepay their FHA mortgages will not have to make interest payments beyond the date their loan is paid in full. ReadMore

NACHA passes 2 rules to increase ACH Network quality

Washington
The voting membership of NACHA, the Electronic Payments Association has approved ballots for two upcoming rules for the Automated Clearing House Network. The two rules are designed to improve ACH Network quality by reducing the incidence of ACH transactions that result in exceptions and returns. ReadMore

21 CUs part of $195M in CDFI awards for low-income communities

Washington
Twenty-one credit unions received $27,906,027 in grants Tuesday from the U.S. Treasury Department's Community Development Financial Institutions program. ReadMore

Aug. consumer confidence highest since 2007

Market
Experiencing its fourth consecutive monthly increase, the Conference Board Consumer Confidence Index for August hit its highest mark since October 2007. ReadMore

Council white paper examines chief lending officer's role

CU System
The influence of credit union chief lending officers extends beyond lending responsibilities into leadership and business strategy roles, according to a new white paper from the CUNA Lending Council. ReadMore
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