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Interchange, Exams, Tax Status Top 2013 News Now Reader Topics
MADISON, Wis. (1/2/14)--Debit interchange, National Credit Union Administration supervisory exams and the credit union tax status were the most in-demand topics for News Now readers in 2013, with each making multiple appearances in monthly Top 10 lists.

As News Now brought the latest developments in credit union news to readers each day, other hot topics throughout the year included the Credit Union National Association's Don't Tax My Credit Union and Unite for Good campaigns, the NCUA's settlements in mortgage-backed security lawsuits, student lending, supplemental capital and overdraft legislation, as well as the end-of-the-year Target debit card breach.
 
The top two articles for each month in 2013 included:
 
January
 
NCUA Letter to CUs Cites 2013 Exam Goals

ALEXANDRIA, Va. (1/31/13)--Increased clarity in its guidance to it examiners and more consistency in its examination practices is a key supervisory focus of the National Credit Union Administration this year, said NCUA Chairman Debbie Matz in a Letter to Federally Insured Credit Unions released today.
 
ABA Targets Tax Exemption For 2013, CUNA Primed To Protect

WASHINGTON (1/25/13)--As if there were any doubts about what the banks are up to this year, an American Bankers Association  lobbyist was quoted today by Bloomberg BNA  that a "chief" goal for banks in 2013 is to push for legislation to change or eliminate the credit union federal tax status.
 
February
 
CUs' Mobile Banking Enters Second Generation: Special Report

MADISON, Wis. (2/20/13)--Mobile banking is here to stay at credit unions. Today, about one-third of all credit unions offer mobile banking. The rest are likely to roll it out within the next 48 months. By comparison, online banking took about twice as long to reach similar numbers.
 
Strong NCUSIF, TCCUSF Performances Decrease Premium Chances

ALEXANDRIA, Va. (2/21/13)--The strong performance in 2012 of the National Credit Union Share Insurance Fund and the Temporary Corporate Credit Union Stabilization Fund, reported by the National Credit Union Administration today, decreases chances for a premium assessment this year.
 
March
 
HarborOne Members Vote To Convert To Bank

BROCKTON, Mass. (3/18/13)--Members of HarborOne CU in Brockton, Mass., have voted to convert the $1.9 billion-asset credit union to a mutual cooperative bank charter.
 
NCUA Liquidates I.C.E. FCU

ALEXANDRIA, Va. (3/15/13)--I.C.E. FCU, Inglewood, Calif., has been liquidated by the National Credit Union Administration.
 
April
 
CUNA Warns Of Potential Denial Of Service Attack

MADISON, Wis. (4/26/13)--With the increasing prevalence of Distributed Denial of Service cyberattacks, the Credit Union National Association is alerting credit unions to "chatter" that has been detected about a potential widespread attack that could be planned for May 7.
 
Surcharge Bans Continue To Gain Momentum

MADISON, Wis. (4/2/13)--The number of states considering bans on imposing a surcharge on credit/debit cards is gaining momentum. At least 18 states are considering such proposals, with one measure reaching a governor's desk. That's in addition to 10 states with laws already on their books.
 
May
 
Tinker FCU Branch Destroyed, Assisting Staff And Members

OKLAHOMA CITY, Okla. (5/22/13)--For nearly two dozen staff and members of Tinker FCU's branch in Moore, Okla., Monday afternoon had its moment of reckoning. A half-mile wide tornado bore down on the branch, and they took cover in the credit union's safe deposit box vault. After it was over, they were safe and sound, and the only thing left standing was the vault.
 
Oklahoma League On Tornado: 'We're Prepared To Get Through This'

OKLAHOMA CITY, Okla.  (5/22/13)--Three credit unions in Moore, Okla., saw different outcomes when Monday's EF5 tornado swept through with 200 mile-per-hour winds that leveled thousands of homes and businesses in an area as much as two miles wide and 17 miles long.
 
June
 
Senate Finance Committee's 'Tax Options' Paper Notes CUs

WASHINGTON (6/13/13)--The release today of the Senate Finance Committee's "tax options" paper on exempt organizations--with the elimination of the credit union tax status written clearly in black and white as a reform option--should be a wake-up call for action by credit unions, Credit Union National Association President/CEO Bill Cheney said in immediate response to the paper's release.
 
NCUA Approves Loan Participation Rule

WASHINGTON (6/20/13)--The National Credit Union Administration's final approved rule on loan participations implemented a number of changes sought by the Credit Union National Association and is now a much more workable framework for credit unions to utilize loan participations, said CUNA President/CEO Bill Cheney.
 
July
 
Court Rejects Fed Interchange Cap Rule

WASHINGTON (7/31/13)--The U.S. District Court for the District of Columbia issued a decision today striking down the Federal Reserve's price caps on debit interchange fees. U.S. District Court Judge Richard Leon said in his ruling that the Fed did not follow congressional intent when it implemented the cap and other changes imposed by what is known as the Durbin amendment.
 
NCUA To Re-align Regional Supervisory Authority In 2014

ALEXANDRIA, Va. (7/19/13)--To maximize operational efficiency, the National Credit Union Administration says it will re-align its regional supervision of federally insured credit unions in nine states, effective Jan. 1, 2014.
 
August
 
Alloya Corporate CEO Walby Resigns, Effective Sept. 15

WARRENVILLE, Ill. (8/26/13)--Alloya Corporate FCU announced Monday that Bill Walby will resign as Alloya's CEO for personal reasons. His resignation is effective Sept. 15, 2013.
 
What CUs Need To Know About Wednesday's Interchange Developments

WASHINGTON (8/22/13)--Federal Reserve Board General Counsel Scott Alvarez on Wednesday said the Fed plans to appeal a recent district court decision that invalidated the agency's debit interchange fee rule. The U.S. District Court judge currently handling the case said that he would allow the status quo to be maintained for now.
 
September
 
NCUA Approves Final Version Of Fixed-Asset Reg Changes

ALEXANDRIA, Va. (9/12/13)--The National Credit Union Administration just minutes ago approved a final version of fixed-asset regulation changes.
 
NCUA, Fed Agencies Release Elder Abuse Prevention Guidance

WASHINGTON (9/24/13)--The National Credit Union Administration today joined six other federal financial regulators to clarify that financial institutions may report suspected elder financial abuse to appropriate authorities.
 
October
 
CLF And Fed Discount Window Are Only Sources For Emergency Liquidity In New NCUA Rule

ALEXANDRIA, Va. (10/24/13)--A final rule addressing emergency liquidity and contingency funding plans for credit unions has just been approved at today's National Credit Union Administration open board meeting.
 
NCUA Unveils Upcoming CU Exam Changes
 
ALEXANDRIA, Va. (10/8/13)--Changes that will streamline credit union examination reports and improve the overall exam process by setting clearer expectations for credit unions and examiners will be introduced on Jan. 1, the National Credit Union Administration said in a letter to credit unions (13-CU-09) released this afternoon.
 
November
 
No TCCUSF Assessment In 2014

WASHINGTON (11/21/13)--The National Credit Union Administration will not charge a Temporary Corporate Credit Union Stabilization Fund (TCCUSF) assessment in 2014. The National Credit Union Share Insurance Fund assessment for 2014 will be between zero and five basis points, the agency added.
 
JP Morgan To Pay $13B Settlement

ALEXANDRIA, Va. (11/19/13)--The National Credit Union Administration has added another settlement to its victory pile related to lawsuits to regain costs associated with losses to the corporate credit unions brought by residential mortgage-backed securities of alleged questionable quality. The U.S. Department of Justice has just announced that JP Morgan Securities would pay $13 billion in total.
 
December
 
CUNA Working To Determine Impact Of Target Breach On CUs

WASHINGTON (12/20/13)--The Credit Union National Association's regulatory staff is working with CO-OP Financial Services, CUNA Mutual Group and others, including PSCU, Financial Services Information Sharing (FS-ISAC), Visa and MasterCard, to determine the potential impact on credit unions and their members related to the massive data breach confirmed Thursday at retail giant Target.
 
 
Market Reaction To Fed Taper Bodes Well For Loans, Says CUNA

MADISON, Wis. (12/19/13)--The market reaction to the Federal Open Market Committee's decision Wednesday to taper its asset-buying program is good news for housing and auto lending, according to a Credit Union National Association economist.


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