Eric Richard

• GSE Reform Advances

  By David Morrison  |  March 8, 2013

  The Federal Housing Finance Agency, the regulator and manager of government-owned Fannie Mae and Freddie Mac, is poised to start to restructure the secondary mortgage market whether credit unions, banks or legislators are ready or not.

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  Industry Anxieties Wane Over Fannie and Freddie Reform

  By David Morrison  |  February 27, 2013

  Despite what almost everyone agrees is the deep importance of the topic, credit unions have become largely ambivalent about reforming the secondary mortgage market and uncertain about potentially disrupting a system which seems to be working well, according to executives with credit union organizations familiar with the issue.

• CUNA Pens Brief Arguing CU Immunity From ATM Placard Suits

  By Heather Anderson  |  December 6, 2012

  Trade group files brief in federal appeals court arguing that credit unions are working in good faith to comply with regulations.

• New York High Court Says Hudson Valley Federal Credit Union Has to Pay Mortgage Tax

  By David Morrison  |  October 18, 2012

  Court rejects tax exemption arguments as not being part of Federal Credit Union Act intent.

• Vt. Regulator May Nix 'Banking' in CU Ads

  By Jim Rubenstein  |  July 30, 2012

  The banking industry’s longstanding effort to deter or prevent credit unions from using the words “bank” and “banking” in advertising was advanced to a new plateau last week with a proposed cease and desist order placed by the state’s top regulator on the $600 million Vermont State Employees Credit Union.

• Vermont Scrap Over ‘Banking’ in Ads

  By Jim Rubenstein  |  July 18, 2012

  Credit union hit with banker-backed state order to quit using "banking" in ads and marketing.

• CU Trades to IRS: Watch Out for Erroneous Automatic Tax Exemption Revocations

  By Heather Anderson  |  May 21, 2012

  CUNA, NASCUS, CUNA Mutual Group and AACUL ask IRS to make sure not to repeat last year's kerfuffle.

• FHFA Principal Forgiveness Wouldn’t Directly Affect Credit Unions: CUNA Execs

  By Heather Anderson  |  April 11, 2012

  Possible Fannie Mae, Freddie Mac write-downs could in fact help credit unions by forcing losses onto holders of first liens.

• Trades Oppose Principal Forgiveness by FHFA

  By Heather Anderson  |  April 11, 2012

  NAFCU, ABA react to FHFA director comments about considering principal forgiveness for some underwater loans at Fannie Mae and Freddie Mac.

• IRS to Some CUs: You Are Not Tax Exempt

  By Claude R. Marx  |  September 18, 2011

  Some state-chartered credit unions have been told by the Internal Revenue Service that they are no longer tax exempt because the IRS hadn’t received their 990 forms.