WASHINGTON--CUNA has filed a comment letter last week urging the National Credit Union Administration Board to abolish the 5% limit on the ownership of fixed assets for federal credit unions.
WASHINGTON—CUNA said it is embarking on the largest partisan campaign in its history as it works to support the re-election of Colorado Democrat Sen. Mark Udall. Described as a “credit union champion” by CUNA’s SVP-Political Affairs Richard Gose and as someone “certainly deserving” of the support, CUNA is backing 120,000 direct mails to credit union voters in Colorado. The Mountain West CU Association is also involved in the effort. Udall, who has backed credit unions in Congress on Member Business Lending relief efforts and other credit union-favored legislation, is in a tight race with Republican candidate Cory Gardner.
WASHINGTON—Saying it doesn’t want to stymie innovation The Consumer Financial Protection Bureau is putting out for comment a new proposal that calls for a limited No-Action Letter policy. “The goal is simple: create a process to reduce the regulatory uncertainty that may exist for certain emerging product or services which stand to benefit consumers,” said the CFPB in introducing the proposal.
EDINBURG, Texas.–The Texas Department of Credit Unions has declined comment to CUToday.info regarding any investigation that may be taking place related to the liquidation of County & Municipal Employees Credit Union here.
MADISON, Wis.—This week marks International Credit Union Week around the world. According to the World Council of Credit Unions, at year-end 2013 there were 56,904 credit unions globally serving 207,935,920 people. Overall credit union assets stood at $1.732 trillion.
ONTARIO, Canada—With National Co-op Week being celebrated this week in Canada, credit unions in this province are part of a series of conferences and roundtables among all types of cooperatives.
SPOKANE, Wash.—The Northwest Credit Union Association has introduced what it is calling a new technology marketplace to “connect Northwest credit unions to the brightest fintech startups” called “betaSpace.”
ST. PETERSBURG, Fla.—With Apple Pay likely nudging more consumers toward mobile payments, PSCU is working with Apple to make sure credit unions are able to enroll with the mobile wallet.
WARWICK, R.I.—Credit unions in Rhode Island have voted 28-0 in favor of merging the Credit Union Association with the Massachusetts CU League and the New Hampshire CU League.
SUNNYVALE, Calif.—Cloud-based security firm Proofpoint is warning that malware-wielding hackers may be preparing to launch APT attacks against the largest U.S. financial institutions.