MADISON, Wis. (7/2/15)--The National Credit Union Administration’s vote to propose a member-business loan (MBL) rule that will provide federally insured credit unions with greater flexibility to meet their small business members' credit needs and reduce regulatory burden was the most-read News Now article in June.
The proposed new approach will eliminate some unintended consequences of the prescriptive approach, such as causing credit unions to manage their lending practices to regulatory restrictions instead of focusing on sound risk management practices (News Now June 18).
The Top 10 articles for the month included:
WASHINGTON (6/19/15)--A proposed MBL rule from the NCUA that moves to a principles-based approach could be “a step in the right direction” in providing regulatory relief for credit unions, CUNA said.
WASHINGTON (6/22/15)--Last week’s announcement by the Consumer Financial Protection Bureau (CFPB) that it would propose to move the effective date of the Truth-in-Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) Integrated Disclosures (TRID) rule was at least in part the result of a missed deadline.
WASHINGTON (6/16/15)--CUNA is seeking changes to field-of-membership rules that the NCUA could address if it is prepared to take an innovative approach to the agency’s current statutory authority.
WASHINGTON (6/10/15)--The chief tax counsel for Rep. Paul Ryan (R-Wis.)--who heads the powerful U.S. House Ways and Means Committee--called CUNA this morning to inform about an important development for credit unions: a problematic provision for financial institutions has been stripped from a Senate trade bill before the House votes on the trade package this afternoon.
NEW ORLEANS (6/2/15)--“The one who enrolls is the one who controls” is the mantra Richard Crone of Crone Consulting offered attendees of the CUNA Payments Roundtable in New Orleans on Monday.
NEW YORK (6/24/15)--Credit unions are cool. At least in the eyes of millennials they are, according to Fortune’s first-ever ranking of the “100 Best Workplaces for Millennials” in the United States.
WASHINGTON (6/18/15)--There will be a delay of the effective date of the CFPB’s's Know Before You Owe rule, which includes the TILA and RESPA TRID regulation.
WASHINGTON (6/17/15)--The Federal Open Market Committee’s (FOMC) policy statement, released at the conclusion of its two-day policy-setting meeting today, gave no indication as to when the central bank will raise short-term interest rates.
MOUNTAIN VIEW, Calif., and KANSAS CITY, Mo. (6/24/15)--Can credit union-wide volunteer programs cut down on employee turnover? Apparently, yes. Just ask the credit unions that have implemented them.
ALEXANDRIA, Va. (6/18/15)--The NCUA voted 3-0 today to propose a member-business loan rule that will provide federally insured credit unions with greater flexibility and reduce regulatory burden for credit unions participating in MBLs.