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Comp Blog

New - August 11: Fixed Assets proposed rule / FICO scoring / Retail payment services / 2000+ Low - income CUs

By: Danielle Wright

CommentMonday - August 11, 2014

Federal Register: Fixed Assets 
The National Credit Union Administration has published in today's Federal Register, the proposed rule on fixed assets.  The proposed rule would amend its regulation governing federal credit union (FCU) ownership of fixed assets to provide regulatory relief and to help FCUs better manage their fixed assets and would provide greater flexibility to FCUs by removing the waiver requirement for FCUs to exceed the five percent aggregate limit on investments in fixed assets. Comments on the proposal are due by October 10, 2014.

Changes to FICO scoring
Fair Isaac Corp. has said it will stop including in its FICO credit-score calculations any record of a consumer failing to pay a bill if the bill has been paid or settled with a collection agency. Less weight will also be given to unpaid medical bills that are with a collection agency. Read about in today’s News Now.

New studies released on retail payment services
Federal Reserve Financial Services has added new summary sheets to FedPaymentsImprovement.org, on three of the Federal Reserve's research initiatives:

The studies were key to evaluating alternatives for achieving faster retail payments and enhancing security.  Also available is a  summary of the Payment Security Roundtables held in June 2014.

Low-income credit unions surpass 2100 mark
Two years after the National Credit Union Administration announced its low-income credit union initiative, 2,107 federally insured credit unions now have the low-income designation.  Read the announcement here.






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