MADISON, Wis. (11/4/14)--Readers flocked to News Now's regulatory coverage in October, as an article about the National Credit Union Administration adopting a revised regulatory reporting policy for loans modified in a troubled debt restructuring (TDR) was the most-read story for the month.
In a bulletin released by the NCUA, the regulatory body outlined when it is acceptable for credit unions to consider previously restructured TDR loans as non-TDR loans in subsequent restructurings.
The story covering the launch of the Credit Union National Association's "Stop the Breaches" campaign and website was the second-most read in October, and CUNA's response letter to the U.S. Treasury Financial Crimes Enforcement Network's (FinCEN) proposed changes to due diligence rules came in third.
The Top 10 most-read News Now articles in October:
ALEXANDRIA, Va. (10/24/14)--NCUA staff confirmed earlier indications that there will be no National Credit Union Share Insurance Fund premium for 2014 at the agency's monthly board meeting Thursday. CUNA analysis earlier this year also concluded that given the health of the credit union system, a premium would not be required.
WASHINGTON (10/15/14)--The U.S. Supreme Court is expected to consider a case in December that could have widespread implications for government regulations and organizations that follow them.
LAS VEGAS (10/30/14)--As she walked through her branch in December 2012, Gail Cook, CEO of Widget FCU, overheard a branch manager comment about a strange new account, words that would spark an investigation that would span more than a year and involved tens of millions of dollars in fraud.
WASHINGTON (10/21/14)--Federal regulators have approved a final qualified residential mortgage (QRM) rule, which requires investment banks to hold at least 5% of a loan's risk on their books when securitizing loans unless the loans meet the definition of a QRM. The rule also more closely aligns the definition of QRM with the Consumer Financial Protection Bureau's (CFPB) qualified mortgage definition, an alignment for which CUNA strongly advocated.
WASHINGTON (10/9/14)--Most of the 200 million Americans who have checking accounts were required to provide information to their financial institution, and the CFPB is interested in that information. The bureau hosted a forum on checking account access Wednesday to explore screening methods used by financial institutions.
WASHINGTON (10/29/14)--As expected, the Federal Open Market Committee announced at the end of its two-day policy meeting today that it will not purchase bonds next month for the first time in more than three years.
WASHINGTON (10/31/14)--The data security breach at Home Depot stores in September cost credit unions nearly $60 million to reissue cards, deal with fraud and cover other costs, according to the results of a new survey of credit unions, released Thursday by CUNA.
WASHINGTON (10/6/14)--In response to proposed changes to due diligence rules, to improve tracking of illegal activities, CUNA sent a letter to FinCEN with concerns that the changes would increase the regulatory burden faced by credit unions.
WASHINGTON (10/3/14)--CUNA has launched a national action alert on data breaches, as well as an extensive toolkit of resources for credit unions to use in communicating the message "stop the data breaches."
ALEXANDRIA, Va. (10/8/14)--The NCUA has issued a bulletin adopting a revised regulatory reporting policy for loans that have been modified in a TDR.