Alabama special session passes ACUA request

At the conclusion of the Alabama Legislature’s special session on Tuesday, there was no solution to the shortfall in the state’s General Fund Budget. However, a request by the ACUA was passed. Monday evening the Senate passed a budget that was identical to the one Gov. Robert Bentley vetoed in June. That budget was sent […]

Florida Credit Union Association legislative update

Florida’s 2016 proposed legislative agenda – we need your feedback! The FCUA 2016 proposed legislative agenda is now available, and the GA team needs your feedback. The issues listed represent the credit union industry’s legislative priorities for Florida’s lawmakers and will guide the efforts of the League’s governmental affairs team. The 2016  Regular Session is […]

National company charged with aiding and abetting in check deposit scheme

On Wednesday the Florida Office of Financial Regulation (OFR) issued an administrative complaint charging Intermex Wire Transfer, LLC, with illegally helping several check cashers avoid complying with Florida law. As part of the administrative complaint, the OFR is seeking a $119,000 fine and license suspension of 318 days. The OFR also issued administrative complaints to […]

Mortgage reg relief bill passes House

Credit unions received a victory this week when the U.S. House passed, on a voice vote, H.R. 1408, a bill that requires the NCUA, along with its counterparts, to jointly study the appropriate capital requirements for mortgage servicing assets for financial institutions. The measure passed on a voice vote. Specifically for credit unions, H.R. 1408 […]

CUNA asks CFPB for TRID safe harbor

CUNA is formally asking the CFPB to provide a temporary safe harbor from the enforcement of integrated disclosure requirements for mortgage loan transactions under the bureau’s TILA-RESPA Integrated Disclosures (TRID) regulation. In a comment letter to the bureau signed by Andrew Price, senior director of advocacy and counsel, CUNA stated that the trade association appreciates […]

Times highlights League letter to Rep. Posey on RBC

The CU Times ran a story on Thursday highlighting two leagues that sent letters of support to their U.S. Representatives for H.R. 2769, a bill asking the NCUA to stop and study its risk-based capital (RBC) rule. The LSCU & Affiliates President/CEO Patrick La Pine wrote Rep. Bill Posey (R-FL) on behalf of credit unions […]