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July 21, 2014

Patelco: Slashing 39 fees dismantles service barriers

CU System
Thirty-nine member service fees erased. Balance transfer: gone. Card replacement: gone. Early mortgage payoff: gone. It's all part of $4.1 billion-asset Patelco CU's mission--to remove any barriers to creating a great experience of banking for its members. And it's a mission driven by Erin Mendez as she closes in on her first anniversary of being president/CEO of the Pleasanton, Calif., credit union. ReadMore

CFPB's Cordray meets with El Paso area CUs

CU System
Representatives from the Cornerstone Credit Union League and a group of El Paso-area credit unions last week met with Consumer Financial Protection Bureau Director Robert Cordray and his staff to discuss the impact on credit unions of recent regulatory changes by the agency. ReadMore

Idaho's Risch adds voice to RBC concerns

Washington
Concerned that credit unions in his state will be facing increased capital requirements under the National Credit Union Administration's proposed risk-based capital rule, Sen. James Risch (R-Idaho) became the latest lawmaker to submit a letter to the agency. ReadMore

New FinCEN SAR Stats tackles bitcoin risk

Washington
The U.S. Treasury Department's Financial Crimes Enforcement Network has released the inaugural SAR Stats technical bulletin, which examines data from Suspicious Activity Reports filed by financial institutions. ReadMore

NCUA responds to McHenry request for RBC plan's rationale

Washington
Meeting a July 18 deadline set by Rep. Patrick McHenry (R-N.C.), the National Credit Union Administration Friday sent the chair of the House Financial Services subcommittee on oversight and investigations the clarifications he requested on the agency's risk-based capital proposal. ReadMore

LSCU shows Costa Rican CUs advocacy in action

CU System
A contingent of 10 officials from five Costa Rican credit unions and FEDEAC, the Costa Rican credit union trade association, gained insight on effective lobbying and formulating a unified message during a four-day visit with the League of Southeastern Credit Unions in Tallahassee, Fla. ReadMore

First Tech, OnPoint golf outing raises $408K for CU4Kids

CU System
The second annual Dave and Dan Classic, presented by First Tech FCU and OnPoint Community CU, raised a record $408,000 for Credit Unions for Kids, which benefits Children's Miracle Network Hospitals. ReadMore

Video from June NCUA board meeting posted

Washington
The video recording of the National Credit Union Administration's June open board meeting is now available on its website. ReadMore
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Economic activity slowed in June, according to the #Chicago Fed's national activity index, released today #Market http://t.co/1pN6peM8my
11 hours ago
Money burns a hole in workers' pockets after payday, despite best intentions via @WSJeconomy http://t.co/A9SNiUdf9v
11 hours ago
"SAR Stats," new from #FinCEN, focuses on #bitcoin. See #NewsNow http://t.co/vS7iTwY2SW
12 hours ago
.@CFPB now accepts consumer complaints on prepaid cards, debt settlement services, credit repair services, and pawn and title loans.
13 hours ago
.@WellsFargo to process transactions in order received, not high to low http://t.co/g0jWJoegoJ
13 hours ago