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 […]
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 […]
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 […]
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.
The Halls of Congress were packed with credit union people from around the country. Alabama and Florida credit unions made 38 visits in just about seven hours. Also during the Hill visits, Reps. Mo Brooks (R-AL) and Bill Posey (R-FL) were honored with Lawmaker of the Year awards. Each has shown over the past year […]
The traditional opening of the CUNA GAC includes a drum and fife corp, a color guard, and a credit union 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, […]