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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

Sherman boosts CU capital bill in Roll Call

A bill to broaden credit unions' ability to build capital would simply fix a flaw in current law that unfairly punishes healthy credit unions for growing to meet the needs of their members and their communities, writes Rep. Brad Sherman (D-Calif.) in an op-ed in the Monday issue of Roll Call.... More

CUNA asks Fitch to revise MBL statements

CUNA asked Fitch Rating Services to revise or reconsider a statement critical of credit union business lending that the ratings agency issued late last week, pointing out information about credit union lending that the statement's authors "may not have been aware" of in preparing their message.... More

Iowa league CEO: Tax status is due to ownership structure

Credit unions are exempt from federal income tax because of their not-for-profit, cooperative ownership structure and volunteer, elected boards, said Patrick Jury, president of the Iowa Credit Union League, in a recent letter to the editor published in the Des Moines Register.... More

CHANGE: NCUA Orlando "listening" session now set for June 13

The National Credit Union Administration (NCUA) has changed the “Listening Session” in Orlando to Wednesday, June 13 instead of Tuesday, June 12.... More

N.Y. CUs, league run full-page MBL ad in N.Y. Times

A full-page ad touting raising credit unions' member business lending cap was placed in the national edition of The New York Times Sunday by New York credit unions and the Credit Union Association of New York. The ad appears in the front section of Sunday's paper.... More