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CUNA Launches $1B HLPR Mortgage Program

By Sarah Snell Cooke

WASHINGTON-Credit unions seeking increased penetration in the low-income mortgage market need look no further than CUNA's Home Loan Payment Relief (HLPR-"helper") program. CUNA kicked off the program officially with a press conference at the National Press Club just prior to the hearing on credit unions' tax-exempt status. At the launching,...

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Fight Over Payday Lending Got Uglier in 2005

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Cormode Steps Down From Symitar

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December 20, 2005

Credit Unions (And Bankers!) Learn to Repeat After Chairman Thomas: Transparency, Accountability, and Verifiability

WASHINGTON-As one Virginia congressman put it, credit unions came closer than ever to taxation this year. In the most public of arenas to date, the tax-exempt status of credit unions was called into question during a hearing slated by House Ways and Means Committee Chairman Bill Thomas (R-Calif.). It was...

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December 20, 2005

ABA Up to its Old Tricks with Renewed Hope, New Lawsuits

WASHINGTON-The week of the congressional hearing on the credit union tax-exemption-and less than a year after NCUA did not appeal a Utah court's harsh remand of a field of membership approval in the state-the American Bankers Association filed two new court cases against the credit union regulator. One will again...

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December 20, 2005

D.C.-Based CU Organizations Roll Up Their Sleeves for Disaster Recovery

WASHINGTON-Everyone wanted in on helping credit unions in the areas hardest hit by Hurricane Katrina and other storms this summer. NCUA activated its emergency response policies, helped get and keep credit unions up and running by various means as necessary, and sent economic development specialists to the areas to help...

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December 20, 2005

2005: The Year of Card Fraud, Public Learns to Fear "Breaches"

WASHINGTON - Credit unions dropped millions, if not tens of millions of dollars in 2005 on the cost of closing and reissuing credit and debit cards for members whose card data was compromised in a series of enormous breaches of card security. The names of the cases, which came in...

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December 20, 2005

NCRC Kept Service Issue Bubbling in 2005

WASHINGTON - The National Community Reinvestment Coalition kept up its periodic attack on credit unions for allegedly not doing enough to serve low-income communities in 2005, thus helping to keep the topic alive. NCRC is the umbrella group of more than 800 groups and institutions, including the National Federation of...

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December 20, 2005

Industry Still Waiting on IRS Guidance for 457(f) Plan Treatment

WASHINGTON - Several developments in the ongoing guidance phase from the IRS on the treatment of 457(f) deferred compensation plans occurred this year. It's been more than a year and a half since an IRS private letter ruling which told a federal credit union that, as a federal instrumentality, it...

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December 20, 2005

MBNA, Bank of America to Merge

WILMINGTON, Del. - If the market for CU card portfolios continues to slow next year, one reason may be the pending merger between card giant MBNA and Bank of America. Announced at the end of June and scheduled to be completed by the end of 2005, the merger between the...

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CUNA Launches $1B HLPR Mortgage Program

Fight Over Payday Lending Got Uglier in 2005

Cormode Steps Down From Symitar

Recommended Just For You

News Stories

Credit Unions (And Bankers!) Learn to Repeat After Chairman Thomas: Transparency, Accountability, and Verifiability

ABA Up to its Old Tricks with Renewed Hope, New Lawsuits

D.C.-Based CU Organizations Roll Up Their Sleeves for Disaster Recovery

2005: The Year of Card Fraud, Public Learns to Fear "Breaches"

NCRC Kept Service Issue Bubbling in 2005

Industry Still Waiting on IRS Guidance for 457(f) Plan Treatment

MBNA, Bank of America to Merge