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Top Stories

Senate bill would require pre-loan student counseling

Legislation that would require schools to counsel students before they take out private student loans, and would help students research their own federal student loan eligibility, has been introduced in the Senate.... More

CUNA seeks comment on FinCEN due diligence plan

CUNA is seeking credit union comment on how the Financial Crimes Enforcement Network's proposed changes to consumer due diligence rules would impact credit union operations and compliance procedures.... More

Some CUs could be forced out of remittances: CUNA

Credit unions need meaningful relief from the Consumer Financial Protection Bureau's recently adopted final regulation on remittances, CUNA Deputy General Counsel Mary Mitchell Dunn wrote in a comment letter filed yesterday with the agency.... More

Kansas appeals court ruling favors CU in state tax case

A Kansas appeals court has overturned an order by the Kansas Court of Tax Appeals, with the higher court saying that Wichita-based Cessna Employees CU is exempt from a state retailers' tax on travel-related expenses that were passed on to the credit union in a vendor's invoice.... More

New MBL ad running in Alabama

The radio ad explains MBL and also uses a small business owner testimonial. ... More

Consumer borrowing rose in February, declined at CUs

Consumers' borrowing increased $8.7 billion or 4.25% during February to a total of $2.522 trillion, rising less than forecast because of a drop in consumers' credit card debt, said a Fed report released Friday. Credit union members borrowed $224.6 billion, less than January's $226.4 billion, but more than the $218.1 billion borrowed in first quarter 2011.... More

Texas, Fla., Ala. step up advocacy on MBLs

Government efforts to pump money into small businesses have not come close to the level of lending that small businesses need, but credit unions are prepared to lend more than $800 million to small businesses in Texas, said the Texas Credit Union League.... More

NCUA OIG recommends asset management changes

A National Credit Union Administration Office of the Inspector General review of the agency's Asset Management Assistance Center found "deficiencies over the valuation process of real estate owned by AMAC."... More

CUNA nominates 28 for CFPB consumer advisers

The Consumer Financial Protection Bureau is developing a Consumer Advisory Board to help keep the agency abreast of emerging trends and practices in the financial services and products industry, and CUNA last week submitted a list of 28 nominees from credit unions across the country.... More

MCUA: 42% of Missouri members lack emergency savings

An online survey of more than 1,100 Missouri credit union members indicates that 42% have no emergency savings, says the Missouri Credit Union Association.... More