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Now online, credit unions may view the latest Cornerstone Credit Union League Regulatory Grid Summary. This informative summary gives you the most up-to-date details about current federal and state comment calls for proposed rules and regulations.
The Cornerstone Credit Union Foundation’s Grants Committee, which meets three times a year to approve grants for financial education programs and chapter and professional development, approved 33 grants totaling $45,750 during the second funding cycle.
Chocolate Bayou Community Federal Credit Union in Alvin, Texas, has selected Credit Union Resources to conduct a search for the position of CEO. Chocolate Bayou Community FCU’s board expressed the need for a thorough and effective search for this critical position and chose Credit Union Resources based on its expertise in executive search within the financial services industry.
The U.S. Senate voted 91-4 to approve the three-month extension of highway funding in a bill that contains a provision requiring increased mortgage reporting. President Barack Obama is expected to sign the bill.
Each year, nearly 12 million Americans take out a payday loan, which can have higher interest rates and fees than other forms of credit, according to a new video released by the National Credit Union Administration.
Mike Schenk, CUNA vice president of economics and statistics, provided insight to Bankrate on the Federal Open Market Committee’s decision to not raise interest rates during its meeting Wednesday. The Fed has been keeping its short-term benchmark interest rate, the federal funds rate, near 0 percent since December 2008. A rate hike would be the first since mid-2006.
Yesterday, the Consumer Financial Protection Bureau took action against Residential Credit Solutions, Inc. for blocking consumers’ attempts to save their homes from foreclosure. The mortgage servicer failed to honor modifications for loans transferred from other servicers, treated consumers as if they were in default when they weren’t, sent consumers escrow statements falsely claiming they were due a refund, and forced consumers to waive their rights in order to get a repayment plan. Residential Credit Solutions has agreed to pay $1.5 million in restitution to victims and a $100,000 civil money penalty for its illegal actions.
The Marketing and Business Development Council has extended the application period by one week for those credit union professionals who wish to apply for a grant to attend this October’s Marketing and Business Development Conference in South Padre Island. Applications will now be accepted through Friday, August 7.
Mark Meyer is the CEO of Filene Research Institute. He's known for turning big research questions into relevant key findings and big ideas into products for a changing world. One of North America’s top cooperative finance thinkers, his approach has helped transform lives and communities about the opportunities for cooperative finance.
Credit Union Resources has been selected to conduct a search for the position of CEO for Heart O’ Texas Federal Credit Union in Waco, Texas. The credit union's current CEO, James Chaney, is retiring in 2016. The Heart O' Texas FCU's board expressed the need for a thorough and effective search for this critical position and chose Credit Union Resources based on its expertise in executive search within the financial services industry.
The board of directors and management staff of East Texas Professional Credit Union in Nacogdoches, Texas, have announced the appointment of Amber O’Pry as the new Nacogdoches branch manager. O’Pry brings with her 10 years of experience in the financial services industry, including numerous lending and management positions.
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