News

Credit unions with assets of $40 million or less will in 2011 be exempt from the collection and reporting requirements under the Home Mortgage Disclosure Act, as a result of a rule issued by the Federal Reserve Board.

The $137 million Prime Financial Credit Union, once considered a failed Milwaukee CU and an early victim of the 2009 Central States Mortgage Corp. bankruptcy, has a new CEO, Christine Moczynski.

A Senate-passed bill allowing the NCUA to make payments to the Temporary Corporate Credit Union Stabilization Fund without borrowing from the Treasury Department could be taken up by the House tomorrow.

House Financial Services Committee Chairman Barney Frank expressed concern to the Federal Reserve that regulations limiting interchange fees could increase the regulatory burden on credit unions and other small financial institutions.

The $490 million Rivermark Community Credit Union said more than 3,600 members signed up for its new mobile banking service since its Dec. 13 launch.

Tightening down on smart phones and a shift in focus in the fight against cyber threats are among what's ahead next year, according to Perimeter E-Security's new webinar, "Five Data Security Predictions for 2011."