Fed seeks comments on adopting NACHA same-day rule

The Federal Reserve board has issued a request for comment regarding proposed changes to its current same-day automated clearinghouse (ACH) payments rules. The Federal Reserve Banks propose to incorporate NACHA-The Electronic Payments Association’s recently adopted same-day ACH operating rules into Operating Circular 4, which governs Reserve Banks’ ACH service. The Fed currently operates a same-day […]

New Senate bill for residential loan parity has CUNA, league support

A bill introduced by Sen. Ron Wyden (D-Ore.) would provide credit unions with regulatory relief, help small businesses, and has CUNA’s support. The bill, S. 1440, would exempt loans to purchase a one- to four-unit, non-owner occupied residential dwelling from credit unions’ member business loan cap. Currently those types of loans at credit unions are […]

CFPB posts spring rulemaking agenda

The Consumer Financial Protection Bureau (CFPB) has posted its spring rule making agenda on its website in accordance with the Unified Agenda of Regulatory and De-regulatory Actions. The agency is mandated to publish its agenda twice a year. The CFPB’s agenda includes nine issues including payday lending, overdrafts, HMDA, and TILA/RESPA. Each agenda topic comes […]

Skaggs elected to LSCU & Affiliates board

The LSCU & Affiliates Board of Directors had one open seat up for election this year. USF FCU CEO Rick Skaggs won the election for the Florida Class C seat which represents credit unions with 15,000 to 40,000 members. Skaggs assumes the seat of Envision Credit Union Chief Administrative Officer Anice Prosser. Skaggs will take […]

CUs among top customer service ratings in new Temkin Group research

Credit unions rank among the 12 highest companies for customer service according to 2015 Temkin Group research. For the third straight year, USAA took the top spot in the 2015 Temkin Customer Service Ratings. Based on a study of 10,000 U.S. consumers, the ratings examine 278 companies across 20 industries. USAA earned the top spot […]

Florida ranks fourth in auto loan growth

Creditunions.com recently reported that nearly every type of lending surged during the first quarter of 2015 for credit unions. Aggregate loan balances increased 10.6 percent — or $70 billion — to $731.2 billion as of March 2015. With a respective 21.5 percent and 13.3 percent growth, new and used auto loans posted the strongest year-over-year […]

Matz outlines changes NCUA is making in MBL rules, processes

CU Today reports that NCUA plans to make adjustments to business lending rules to streamline the process for credit unions and to remove limits in some areas. NCUA Chairman Debbie Matz told CU Today that the agency is looking to make adjustments that don’t require congressional action that can bolster credit union business lending. “Of […]

Opinion: League counters banks in Sun Sentinel opinion column

Earlier this week, the Florida Bankers Association went on the offensive by placing opinion columns in three publications including the South Florida Sun Sentinel. The column included the same old argument of how credit unions should be taxed and how “America’s hometown banks” are suffering. LSCU & Affiliates President/CEO Patrick La Pine countered the bankers […]

Credit union service in action

By Jan Sheffield, Chief of Staff, First Commerce Credit Union Credit unions are well known for their customer service. But each time our credit union hears a story about how a member was touched by the staff, it still makes us proud. Recently, one of our members and former staff members, Ruby Nell Vause Smith […]

U.S. Senate Democrats counter Shelby with own bank regulation bill

Senate Banking Committee Democrats released their own version of a regulation relief bill on Tuesday; keeping the proposed changes tightly focused on small banks and consumer protection. The Democrats’ bill is a rebuke to committee chairman Richard Shelby (R-AL), who officially released his wide-ranging legislation on Monday after circulating a draft version early last week. […]