| 09/09/10 - 5 join NAFCU Congressional Caucus speaker slate |
| The slate of speakers for NAFCU’s Congressional Caucus has grown by five with the addition of NCUA Board Member Gigi Hyland and four members of Congress involved in issues affecting the nation's financial institutions. |
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| 09/09/10 - CU consumer credit share drops to 9.48% |
| Consumer borrowing fell at a sharper rate in July than it did the previous month, and credit unions saw their share of the consumer credit market decline 2 basis points to 9.48 percent, the Federal Reserve reported Wednesday. |
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| 09/09/10 - Fed sets 2 small-value deposit offerings |
| The Federal Reserve said it is moving forward with small-value offerings of term deposits through its Term Deposit Facility on Oct. 4 and Nov. 29, with additional offerings expected to continue about every other month. |
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| 09/09/10 - FTC, NCUA detail risk-based pricing rules |
| Risk-based pricing notice requirements under the Fair and Accurate Credit Transactions Act kick in Jan. 1, and more rulemaking is ahead under the Dodd-Frank Wall Street Reform and Consumer Protection Act, according to speakers in Wednesday’s NAFCU webcast. |
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| 09/09/10 - Housing finance on Financial Services agenda |
| Schedules are still in flux, but the future of housing finance is expected to be addressed in hearings this month by the House Financial Services Committee, NAFCU lobbyists have learned. |
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| 09/09/10 - Short refinance option available now at FHA |
| Eligible borrowers whose lien holders agree to write off at least 10 percent of the principal on their first mortgages can refinance into new loans insured by the Federal Housing Administration, the Department of Housing and Urban Development announced Wednesday. |
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| 09/08/10 - Becker asks SBA support of MBL cap lift |
| NAFCU President Fred Becker yesterday asked SBA Administrator Karen Mills to support efforts to win a member business loan cap lift for credit unions as Congress prepares to reconvene next Monday. |
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| 09/08/10 - Longer NFIP extension awaits Senate action |
| The president has signed an extension to Sept. 30 for the National Flood Insurance Program, and another bill that would continue the program for an additional five years awaits the Senate when it returns next week from recess. |
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| 09/08/10 - NAFCU paper helps CUs navigate exam process |
| NAFCU yesterday sent all members – and is making available to all insured credit unions – a six-page paper that should help them ensure the best and most productive outcomes from the yearly examination process. |
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| 09/08/10 - NAFCU weighs in on golden parachute proposal |
| NAFCU yesterday praised NCUA’s effort to protect the share insurance fund through a proposed rule on golden parachute and indemnification payments, but it said the rule is poorly timed and requires clarification. |
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| 09/07/10 - August jobs data not as bad as expected |
| Private-sector hiring picked up a bit in August, but NAFCU does not expect robust job gains before 2011, with credit union loan demand remaining below potential for some time. |
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| 09/07/10 - Comments sought on financial literacy strategy |
| The Financial Literacy and Education Commission is taking comments until Sept. 19 on the 2010 National Strategy for Financial Literacy, which is required under the Fair and Accurate Credit Transactions Act. |
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| 09/07/10 - New housing goals for Fannie, Freddie |
| The Federal Housing Finance Agency set housing goals for Fannie Mae and Freddie Mac through 2011, with changes that target specific mortgage market segments and take into account the two entities’ conservatorship status. |
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| 09/07/10 - Rule sets new LTV, credit score minimums at FHA |
| A final rule on Federal Housing Administration-backed lending sets a minimum credit score of 500 and a top loan-to-value ratio of 90 percent for less-creditworthy borrowers, effective Oct. 4. |
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| 09/07/10 - Treasury tax-season pilot to target unbanked |
| Treasury plans to launch a new pilot program during next year’s tax season that aims to shift more unbanked individuals into safe, low-cost financial accounts with mainstream financial service providers. |
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| 09/03/10 - Bernanke: No guarantees against future crisis |
| Federal Reserve Chairman Ben Bernanke said Thursday it isn’t possible to guarantee another financial crisis will never happen given that the financial system requires a regulatory framework that promotes “the appropriate mix of prudence, risk-taking and innovation.” |
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| 09/03/10 - CUs’ views sought on financial education goals |
| NAFCU is seeking members’ input as it prepares an official comment letter regarding Treasury’s proposed set of financial education core competencies for consumers and financial education providers. |
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| 09/03/10 - Fiscal panel urged to weigh policy impact on CUs |
| NAFCU yesterday urged the National Commission on Fiscal Responsibility and Reform to take into account the impact on credit unions and their 92 million members of future recommendations for achieving a balanced federal budget. |
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| 09/03/10 - NAFCU points to slowing GDP in MBL push |
| Drawing on news of a slowing in productivity growth, NAFCU President Fred Becker yesterday urged House and Senate leaders anew to include a member business loan cap lift proposed by Sen. Mark Udall, D-Colo., in jobs legislation when Congress returns from its summer recess. |
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| 09/03/10 - Signs to reflect permanent $250,000 limit |
| Credit unions have until March 2, 2011, to replace any out-of-date official insurance signs to show the permanent nature of the $250,000 standard maximum share insurance amount, NCUA said in a final rule approved by the board last month. |
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| 09/03/10 - Sluggish recovery hampers vehicle sales |
| August is typically a month for strong vehicle sales, but the economic recovery proved too fragile for that to happen this time, noted NAFCU Staff Economist Katrin O’Connor Thursday. |
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| 09/02/10 - MDI early registration ends Sept. 17 |
| Discounts apply until Sept. 17 on tuition paid by NAFCU members and nonmembers to attend NAFCU’s Management Development Institute, which is set for Nov. 15-20 in Durham, N.C. |
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| 09/02/10 - NAFCU weighs in on RESPA proposal |
| The Department of Housing and Urban Development should ensure that any changes to its Real Estate Settlement Procedures Act rules do not inadvertently affect credit unions through arrangements with lender affiliates, NAFCU said Wednesday. |
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| 09/02/10 - NAFCU, writing lawmakers, touts CUs’ role |
| NAFCU President Fred Becker reiterated the association’s argument that credit unions’ federally tax-exempt status helps ensure consumers a unique, quality alternative to banks in letters Wednesday to the leaders of the House Ways and Means and Senate Finance committees. |
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| 09/02/10 - NCUA adds fraud to WesCorp complaint |
| The NCUA Board late Tuesday filed an amended complaint alleging, variously, breaches of fiduciary duty, fraud and unjust enrichment by three former officers of Western Corporate FCU, under conservatorship since March 2009. |
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