The Consumer Financial Protection Bureau released final mortgage rules that restrict loan originator compensation methods and increase the level of service loan servicers must provide to borrowers. However, due to the way credit unions already do business, trade associations say neither rule will have a major impact on the industry.
Compliance burden may fall on sub-services.
Concentration risk is low, diversification benefits touted.
A CUNA survey of some of its member credit unions suggests credit unions with less than $10 billion in assets have begun to take a hit to their debit card interchange even though they were not supposed to feel the impact of a debit interchange cap.
Participating credit unions showed drop in debit interchange for PIN transactions.
Bank regulator budget compares with 6.1% budget hike for NCUA.
Consumers plan to spend more on holiday gift giving this year, as much as a 4% increase, according to an annual survey on the topic sponsored by CUNA and the Consumer Federation of America. The two groups released the survey results in a press event Nov. 21.
Results show 3.5% to 4% increase over last year.
Association promises seasonal chestnut will offer fresh meat.
Members of Technology Credit Union voted to reject a proposal to convert their institution to a mutual bank.