Alabama Credit Union president talks regulatory burden

CUNA recently commissioned an analysis of the financial impact of regulation on credit unions. In an interview with S&P Global Market Intelligence, Alabama Credit Union’s Steve Swofford spoke about the credit union’s “involvement in the study, the importance of scale, and the tax-exempt status of credit unions.” Swofford, president of the Tuscaloosa-based credit union with […]

NCUA accepts $33 million, plus interest, from UBS in MBS suit

The National Credit Union Association (NCUA) has accepted a judgment for $33 million, plus pre-judgment interest, from Swiss banking giant UBS AG to resolve claims from losses related to purchases of residential mortgage-backed securities (MBS). This is NCUA’s latest recovery from legal action following the corporate credit union crisis. More than $2.4 billion in legal […]

FHLBank bill passes Florida House

Wednesday, the Florida House of Representatives passed HB 1233, signifying a big win for credit unions. This bill requires the Office of Financial Regulation to enter into an information-sharing agreement with the Federal Home Loan Bank Atlanta (FHLBank) for the purposes of providing examination reports so that state-chartered credit unions may enter the FHLBank’s secondary […]

INFOGRAPHIC: A snapshot of U.S. mortgage lending from HMDA reporters

The Home Mortgage Disclosure Act (HMDA) requires mortgage lenders nationwide to report certain data to their respective regulators. ComplianceTech compiled key data from HMDA reporters in 2014 (the latest information available), giving credit unions insight into the current mortgage lending landscape. Click the image for a larger version of the infographic.

Nussle highlights CU difference at CUNA GAC

The traditional opening of the CUNA GAC includes a drum and fife corp, a color guard, and a credit unionĀ  representative from each state walking in with the state flag. CUNA President/CEO Jim Nussle also challenged credit unions to tell the #CUDifference with 15-second videos through social media. It’s not just for CUNA GAC attendees, […]