Association News
What Will Your Branch of the Future Look Like? | Wednesday, 13 February 2013
Do You Wonder What Your Branch of the Future Looks Like?

DBSI, Inc. is hosting a special lunch and tour at the conclusion of the Mountain West Annual Convention on Saturday, April 6th including transportation (or directions if you’re driving) to their Ideation Center in Phoenix, AZ.  You’ll get a tour of their Branch of the Future, where you’ll see 22 of the most cutting edge banking technologies and designs, and you’ll have fun doing it!  You can take a ride down their bat pole, or even play a round of golf while you’re there.


Be ready to leave the Arizona Biltmore at 11:30 a.m., where the shuttle will take you to the event.  The event will last until approximately 2:30 p.m., after which we’ll provide transportation to the airport for those who need it (only 15 minutes from Sky Harbor).  There’s no cost to attend, however, space is limited!  To confirm your reservation, or for additional information contact Nina Christensen at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
State Of the Union Highlights CUNA/CU Priorities | Wednesday, 13 February 2013
President Barack Obama's Tuesday night State of the Union address helped to shine the spotlight on two key credit union issues and reflected two of the Credit Union National Association's action priorities for 2013.

Among his wide-ranging topics, the president detailed areas of economic recovery and underscored the continuing need for job growth. Read More
CFPB Clarifies CUNA Small Servicer Concerns | Wednesday, 13 February 2013
The Consumer Financial Protection Bureau's exemption for "small" mortgage servicers will not apply to a third party subservicer if a credit union contracts with a third-party that services more than 5,000 mortgages, the agency has clarified.
 
Credit unions recently asked the Credit Union National Association to clarify how the CFPB's "small servicer" exemptions would impact their work with mortgage subservicers. Read More
 
Are Regulators Listening? - CompBlog Wrap-Up Asks | Monday, 11 February 2013
As Credit Union National Association compliance staff looked back through January's regulatory results, they detected a rarity—something credit unions will hope will form a new trend. The National Credit Union Administration and the Consumer Financial Protection Bureau both appeared not only to think about how their actions might burden the regulated, they also took steps to do something about it.

January was a busy month for new rules to say the least,. The NCUA addressed the small credit union definition, its 2013 annual performance plan, and low-income designations. The CFPB released a barrage of mortgage regulations.  Read More
CUNA Adds Escrow Compliance Chart As a CFPB Resource | Friday, 08 February 2013
The Credit Union National Association has added an escrow account compliance chart to its list of resources developed to help its member credit unions comply with new Consumer Financial Protection Bureau mortgage rules.

The chart format is designed to help credit unions find the specific information they are looking for quickly.  The chart covers the basics of the new rule and more detailed information, including:
  • Effective dates;
  • Exemptions and exceptions;
  • Significant definitions; and
  • What the new rule will change.

For additional information, read more.
Compliance: Direct Express March 1 Deadline Brings Issues | Wednesday, 06 February 2013
Federal benefits payments will be made only by direct deposit or the Direct Express debit MasterCard after March 1, and the Credit Union National Association has answered one key credit union compliance question ahead of this deadline.

CUNA Senior Vice President for Compliance Kathy Thompson in a recent CUNA Comp Blog post reminded credit unions that federal benefits recipients with the Direct Express MasterCard will be able to make no-fee cash withdrawals from any bank or credit union through a teller where the institution displays the MasterCard acceptance mark.

Therefore, Thompson said, credit unions that display the MasterCard acceptance mark will be required to provide cash to Direct Express cardholders, with no fee attached, whether the cardholder is a member or not. "If your credit union has an agreement with MasterCard that requires you to honor these cards, that trumps any field of membership issue," she said.

CUNA has recommended that any credit union with an agreement with MasterCard read its agreement to ascertain the credit union's contractual responsibilities in honoring the Direct Express debit card. MasterCard representatives can also help address any compliance concerns, Thompson noted.
CUNA Releases High-priced Mortgage Rule Analysis | Friday, 01 February 2013
New regulations that will require lenders offering higher-priced mortgages to use licensed or certified appraisers are the subject of a Credit Union National Association final rule analysis.  Read More
CFPB Mortgage Changes Detailed in CUNA Chart | Thursday, 31 January 2013
Credit unions looking for analysis of the many new mortgage regulations unleashed by the Consumer Financial Protection Bureau this month can turn to a final rule analysis just issued by the Credit Union National Association, which features a chart listing the rules and their key components in a new chart.  Read More
Reg B Appraisal Rules Subject of New CUNA Analysis | Thursday, 31 January 2013
New Consumer Financial Protection Bureau rules that require mortgage lenders to provide applicants with free copies of all appraisals and other home-value estimates are broken down in a new Credit Union National Association final rule analysis.

The appraisal rule, issued under Regulation B, implements changes to the Equal Credit Opportunity Act (ECOA) that were made under was required under the Dodd-Frank Wall Street Reform and Consumer Protection Act.  Read More
CUNA: Fed Maintains Policy Don't Expect Relief From Low Rates | Thursday, 31 January 2013
Federal Reserve monetary policymakers voted Wednesday to continue their policy of purchasing bonds and Treasuries and tying the near-zero federal target fund interest rate to unemployment. That means credit unions should not expect any quick relief from low rates, said Credit Union National Association Chief Economist Bill Hampel.  Read More
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