CUNA News Now Headlines

Kanjorski: Congress should take time with reg reforms

Wed, 1 Jul 2009 20:00:27 GMT

Congress should "step back" and take time to "analyze the implications and the effects" of the laws and regulations that are being debated before it begins the process of legislating financial regulatory reforms, Rep. Paul Kanjorski (D-Pa.) said Wednesday on CNBC.

NCUA working with agencies on Credit CARD Act, UDAP

Wed, 1 Jul 2009 22:17:50 GMT

The National Credit Union Administration on Wednesday said it has begun to work with the Federal Reserve to implement the Credit Card Accountability, Responsibility, and Disclosure Act of 2009, portions of which supersede interagency rules addressing unfair and deceptive acts and practices (UDAP).

Credit reporting changes to take effect in 2010

Wed, 1 Jul 2009 19:54:35 GMT

The Federal Trade Commission, the National Credit Union Administration and other associated federal regulators have published final rules that will change portions of the Fair and Accurate Credit Transactions Act to allow consumers to directly dispute potentially inaccurate credit history data with the lender that provided that information to the credit reporting agency.

FHFA raises loan-to-value ratio for home refinancers

Wed, 1 Jul 2009 22:29:28 GMT

Homeowners whose mortgages are backed by Fannie Mae or Freddie Mac will now be given greater opportunities to refinance their homes under the Home Affordable Refinance Program. The Federal Housing Finance Agency Wednesday authorized those government-sponsored entities to increase their loan-to-value ratio ceiling to 125% from the current 105%.

Pa. CUs to aid state employees in budget impasse

Wed, 1 Jul 2009 22:34:31 GMT

Nine credit unions in Pennsylvania have announced plans to offer special low-interest loans and lines of credit to help members who are state employees cope with the potential loss of their paychecks.

Boston Globe: When lender says no, turn to CUs

Wed, 1 Jul 2009 21:34:58 GMT

Credit unions are a good alternative to traditional mortgage financing as credit markets overall have tightened up, the Boston Globe said in a Tuesday article.

CUNA closed Friday for holiday, no News Now

Wed, 1 Jul 2009 22:40:47 GMT

CUNA's Washington, D.C., and Madison, Wis., offices will be closed Friday in observance of the Independence Day holiday. News Now will not publish an edition Friday but will resume regular publication on Monday.

Heartland tests new encryption

Wed, 1 Jul 2009 21:05:07 GMT

Heartland Payment Systems, one of the nation's largest payments processors, successfully completed the first phase of its end-to-end encryption pilot project Monday in response to last year's data breach.