Credit Union Times Magazine October 16, 2013

Featured Story

  • Federal Pay Remains Unsettled

    A bill passed Oct. 5 by the House of Representatives that would grant back pay to furloughed federal employees in the government shutdown stalled in the Senate. As of Oct. 10, the Democratic-controlled Senate had yet to vote on the bill, which passed 407-0 in the Republican-controlled House.

  • Report Urges CFPB to Post All Complaints

    The Consumer Financial Protection Bureau's online complaint database should be expanded to include all of the nation’s credit unions and banks, regardless of size, according to National Community Reinvestment Coalition analysis released Oct. 8.

Front Page News

  • Cash Sales Clip CUs

    In South Florida, 69% of all home sales this summer were cash, with a statewide rate of 66% according to data from RealtyTrac.

  • Connexus Buys FILO

    The $500 million Connexus Credit Union in Wausau, Wis., purchased Financial Institution Lending Options LLC, a company also based in the Badger State that provides credit unions with auto loans through pool sales, participation pools and whole loan flow sales.

  • Student Loans Pondered

    Gary Perez is upbeat about the future of private student loans.


Editor-in-Chief's Column




  • Exam Tweaks Answer NCUA Critics

    Responding to calls for an improved exam process, NCUA Chairman Debbie Matz Tuesday released a letter to credit union that details the agency’s plans to separate Documents of Resolution from Examiner’s Findings and include documented support for DORs.

  • Real Estate Developer Defrauds Alabama One CU of $1.275M

    The SBA and the $620 million Alabama One Credit Union were among the victims of check kiting and other fraudulent activities allegedly committed by Danny Ray Butler, a businessman and real estate developer.

  • GSEs Move Forward with New MBS Market

    Fannie Mae and Freddie Mac have made significant progress toward creating a joint entity which may eventually function as a market for mortgage-backed securities.

  • Fraud Charges for Central States Execs

    Four executives from failed mortgage CUSO Central States Mortgage were indicted on fraud and other charges. David Jungen, his wife Elaine, Jerome Poelhnelt and David Chapman were named in a federal indictment, unsealed Oct. 4 in Eastern Wisconsin’s U.S. District Court.

  • Federal Judge Tosses New York Ban on Card Surcharging

    New York’s ban on retailers charging a surcharge for credit card purchases was ruled unconstitutional Oct. 3 by a federal court judge.

  • Study: Boomer Retirement Will Drain Experience

    Eighteen percent of the workforce could retire within the next five years.


  • People in the News

    The $190 million Cy-Fair Federal Credit Union located in Houston, Texas has hired Brett Wooden for the newly created position of senior vice president of marketing and innovation. Prior to joining Cy-Fair, Wooden held positions at Unitus Community Credit Union in Portland, Ore., where he developed a reputation for using...

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