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CFPB clarifies state reciprocity in MLO licensing

Consistent with the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), a state may grant a transitional mortgage loan originator license to an individual who holds a valid loan originator license from another state, according to a clarification issued by the Consumer Financial Protection Bureau Thursday.... More

Wanted: CU global brand identity

Credit unions have made great strides worldwide from consumers' disillusionment with banks during the recession. However, they still need to better articulate the credit union difference in a way that resonates with consumers, says an international group gathered by the World Council of Credit Unions to take the first step toward developing a global credit union brand.... More

Franken, Pawlenty praise CUs at MnCUN meeting

U.S. Sen. Al Franken (D-Minn.) and former Minnesota Gov. Tim Pawlenty cleared their schedules for credit unions this past weekend to speak at the Minnesota Credit Union Network's Annual Meeting & Convention. They praised credit unions for their service model and contributions to their communities and Minnesota as a whole.... More

Financial Literacy Week on H&FF Radio

Sunday's Home & Family Finance Radio program addresses Financial Literacy Week, bill-paying trends, buying a home, and obtaining a mortgage.... More

UPDATE: Alabama credit unions state their case for public deposits during Senate hearing on April 18

Credit unions in Alabama finally got an opportunity to explain why they should receive public deposits in a hearing with the Senate Banking & Insurance Committee on April 18.... More

New small CU deputy director is appointed

Credit union veteran Martha Ninichuk will take on the role of deputy director of the National Credit Union Administration's Office of Small Credit Union Initiatives on Sunday, the agency has announced.... More

CFPB to target credit discrimination

The Consumer Financial Protection Bureau will "combat unlawful, discriminatory practices--including those that have an illegal disparate impact on protected borrowers," and examine mortgage lending, student lending, auto lending, and credit card practices for evidence of lending discrimination, the agency said on Wednesday.... More

Creative MBL messaging directed at lawmakers, consumers

Listerhill Video Screenshot

With a vote on S. 2231, member business lending legislation, likely coming this month, two credit unions in particular have come up with creative messaging to get the credit union point-of-view across to lawmakers.... More

CFA asks senators to support MBL cap increase

The Consumer Federation of America has joined the list of organizations that support a member business lending authority increase for credit unions, telling senators that the Small Business Lending Enhancement Act of 2012 (S. 2231) would "expand access to affordable credit for small businesses and help strengthen local marketplaces that serve consumers well."... More

NCUA report notes CU burden in diversity standards

The administrative burden on credit unions will be taken into account as new diversity standards are developed, since "credit unions face some challenges in developing diversity policies and programs," the National Credit Union Administration's Office of Minority and Women Inclusion said in its yearly report to Congress.... More