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June 19, 2013

NEW: Tax Options Paper Gets CUNA 'Inside Exchange' Spotlight

WASHINGTON (6/19/13, UPDATED 5:15 p.m. ET)--The threat level of credit unions of tax reform--raised by the release June 13 of a "tax options" paper by the Senate Finance Committee--is explored in the latest episode of "Inside Exchange," CUNA's video series of key legislative, regulatory and political topics. ReadMore

NEW: Fed Action On Monetary Policy Stays Steady

(6/19/13, UPDATED 2:45 p.m. ET)--The monetary policymakers for the Federal Reserve today held steady on any action, keeping intact their schedule for bond-buying and their near-zero targeted federal funds interest rate, saying that "economic activity has been expanding at a moderate pace." ReadMore

NEW: BizKid$ Adds Another Emmy To Trophy Case

MADISON, Wis. (6/19/13, UPDATED: 10:30 a.m. CT)--Biz Kid$, a credit union funded public television series that teaches kids about money management and entrepreneurship, has won a national Emmy Award, television's highest honor. The award for Outstanding Achievement in Single Camera Editing was presented Friday to Biz Kid$ in Los Angeles. ReadMore

CUNA Tells Lawmakers CUs Merit Full QM Exemption

Washington
CUNA witness Jerry Reed testified yesterday that credit unions worry that the Consumer Financial Protection Bureau's Qualified Mortgage rule will make it all but impossible for credit unions to write non-QM loans. ReadMore

NCUA Adds Loan Participation Rule To Thursday Agenda

Washington
A final rule on loan participations has been added to the National Credit Union Administration's June open board meeting agenda. ReadMore

New Accounts Have Highest Rate Of Cyberattacks

CU System
New accounts have the highest rate of cyberattacks, with takeover attempts nearly twice that of accounts that are at least six months old, according to Web fraud data compiled by ThreatMetrix Inc. ReadMore

Serving The Underserved Topic Of CU Magazine Special Report

CU System
How credit unions are reaching out to serve the underserved is the focus of a new Web Exclusives special report from Credit Union Magazine, released Monday. ReadMore

CUNA Warns FHFA QM Proposal Could Harm Credit Access

Washington
The Federal Housing Finance Agency's decision to prohibit government-sponsored enterprises Fannie Mae and Freddie Mac from purchasing mortgages that do not meet the definition of qualified mortgages could prevent credit unions from working with their members to customize financial products that meet their individual needs, CUNA President/CEO Bill Cheney wrote in a letter to FHFA Acting Director Ed DeMarco. ReadMore

Mobile Payments Growth, Deposit Automation Head ATM Innovations

CU System
Mobile/contactless payments was identified as the area with the most expected future growth by respondents to the 2013 global ATM Innovation Industry Survey. ReadMore

CUNA: HUD Reporting Changes Would Ease CU Burdens

Washington
"Credit unions strongly support efforts to simplify their compliance obligations," including a proposed U.S. Department of Housing and Urban Development rule that would streamline Federal Housing Administration financial statement reporting requirements, CUNA Deputy General Counsel Mary Dunn said in a comment letter filed this week. ReadMore

CU Magazine Seeks CU Rock Stars Nominations

CU System
Credit Union Magazine is seeking credit union rock stars: Unique individuals who demonstrate outstanding innovation in their areas of expertise--and by doing so make the credit union movement a better, more interesting place. ReadMore
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News Now LiveWire
Ck out CUNA's latest "Inside Exchange" video. What the threat level to #CU tax status? Watch here: http://t.co/P4aSLgIqMU
7 hours ago
#CUNA coverage of Federal Open Market Committee Meeting now live on News Now at http://t.co/sqLAUZ1Adf
9 hours ago
Fed Chairman Ben Bernanke: Fed could begin tapering its bond purchases later this year if forecasts on inflation, unemployment are correct.
9 hours ago
Fed Open Market Committee expects jobless rate to hit 6.5% in 2014, instead of 2015, w/ temporary inflation slowdown. Interest rates steady.
10 hours ago
Fed policymakers meeting Tuesday and today will announce latest monetary policy. Watch for #CUNA live update in News Now this afternoon.
11 hours ago