Credit Union Times Magazine July 24, 2013
An auto loan portfolio worth $463 million and vehicle lending as a core product for over 50 years were factors that put Mission Federal Credit Union ahead of the pack during the bidding process for Autoland Inc.
A housing finance reform bill unveiled by House Republicans July 11 would wind down Fannie Mae and Freddie Mac and also contains a number of regulatory relief provisions, including tweaks to the CFPB’s qualified mortgage rule and exam reform.
Front Page News
Trade associations are hopeful the NCUA will reduce its 2013 operating budget during its monthly board meeting July 25. While the board’s open meeting agenda has not yet been released, historically the federal regulator makes mid-year adjustments to the operating budget and announces the annual corporate assessment rate in July.
As of July 18, former Taupa Lithuanian Credit Union CEO Alex Spirikaitis was still at large after a police came up empty after standoff at his suburban Cleveland home. Authorities turned to the public, asking for assistance in his capture.
On July 12 during a general session at NAFCU’s Annual Conference in Boston, NCUA Chairman Debbie Matz revealed some new details regarding a rule under development that would increase net worth requirements for credit unions with more than $50 million in assets.
Richard Cordray was confirmed as director of the Consumer Financial Protection Bureau July 16, after Senate Democrats and Republicans successfully negotiated a deal that includes other pending nominees and will keep filibuster rules in place.
For Debra I. Da Costa, who as marketing vice president had been defining and delivering global marketing strategies at the $3.8 billion United Nations Federal Credit Union for more than 13 years, every day provides a new chance to improve and she wouldn’t have it any other way.
How do you steer a brand out front, convince all involved of the potential savings and still deliver a suite of products and services to credit unions, hopefully, seamlessly? Consider a merger.
It is crazy how quickly a once thriving CUSO can suddenly find itself on its back sucking for air and worrying about its future. I have seen this many times and the answers usually aren’t buried that deep. Let’s examine some of the ways on how not to get derailed...
A new survey of debit issuers representing about 45% of U.S. debit traffic suggests the debit industry is living on less interchange but is also experiencing less fraud.
Payments processor Capital Services, known until recently as Capital Card Services, works with about 130 credit unions, and has been hidden behind a relationship with Fiserv. Now, it has begun offering its services under its own name.
Just over a year since it purchased noted mortgage CUSO Prime Alliance Solutions, Mortgage Cadence has been purchased by Accenture, an international financial services consulting and software firm.
It’s official. Richard Cordray is the director of the CFPB.
Vendors are building solutions that simplify complex on-premise processes by deploying business applications through the cloud. But real-world cloud adoption continues to lag behind the market hype. As more institutions come to understand the real benefits the cloud delivers, adoption will continue to grow.
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