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Top Stories

Let Congress set privacy rules, CUNA tells CFPB

CUNA has urged the Consumer Financial Protection Bureau, which sought comments on a proposal that is intended to protect privileged information provided to the agency, to postpone its rulemaking pending action in the Senate on legislation to accomplish similar goals.... More

ATM fee-notice lawsuits spread to West Coast

Lawsuits brought against credit unions and banks alleging violations of the ATM-fee disclosure provisions in the Electronics Funds Transfer Act are on the increase again, this time on the West Coast with the latest filed Thursday against a credit union in Washington state.... More

CUs maintain commitment to private student loans

Credit unions nationwide remain committed to assisting students and families with higher-education financing through private student loans, while traditional banks have recently been reducing their footprint in student lending, says Fynanz, a CUNA Strategic Services provider that works with credit unions on private student loans.... More

Free webcast with CFPB Director Richard Cordray on April 24

Richard Cordray Photo 2

On April 24, CFPB Director Richard Cordray will discuss his vision for the agency and its impact on credit unions in a free webcast hosted by the National Association of Federal Credit Unions (NAFCU).... More

No CU damages reported from Midwest tornadoes

More than 120 tornadoes that hit Midwestern states this past weekend left credit unions unscathed.... More

CUNA details how CFPB could address ATM issue

The Consumer Financial Protection Bureau has "more than sufficient authority" under the Dodd-Frank Wall Street Reform Act and the Electronic Fund Transfer Act to amend Regulation E and eliminate the requirement for on-machine ATM fee disclosure notices, CUNA President/CEO Bill Cheney said in a recent letter to the agency.... More

Fed seeks summary judgment in interchange case

The Federal Reserve in a brief filed Friday asked the U.S. District Court for the District of Columbia to declare summary judgment in its favor in a case brought against the regulator by a coalition of retailer organizations seeking to invalidate the Fed's debit card interchange rule.... More

CU CEO decries 'flood of regulations' at field hearing

Although credit unions did not cause the financial crisis, "they have been subjected to a flood of regulations that create an unnecessary burden without any measure of the effectiveness of these changes," Stan Barnes, president/CEO of Canton, Ohio-based CSE FCU said during a Monday House subcommittee on financial institutions and consumer credit field hearing in Cleveland, Ohio.... More

Forbes: CUs a lifeboat for students drowning in debt

"For all those drowning in student debt, a credit union just might be a lifeboat," wrote personal finance writer Sheryl Nance-Nash in an article on Forbes' website.... More

Public Deposits hearing set for April 18 in Alabama

Legislation that would allow credit unions in Alabama to become qualified public depositories, SB 299, will be heard in the Senate Banking & Insurance Committee on April 18.... More