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Comments Due on Proposed Rules for Texas Home Equity Lending Law Changes
Thursday, December 14, 2017 7:00 AM

Texas voters approved changes to the home equity lending law on Nov. 7, 2017. The Texas Credit Union Commission and the Finance Commission have jointly published proposed interpretation amendments to implement SJR 60, which amends Article XVI, Section 50 of the Texas Constitution and applies to home equity loans entered on or after Jan. 1, 2018.

Questions Arise Regarding Home Equity Loan Closings in January 2018
Thursday, December 14, 2017 6:55 AM

As you have likely heard, home equity lenders in Texas are celebrating the successful amendment of the Texas Constitution effective Jan. 1, 2018. In the new year, home equity loans will involve revised disclosures. The question many credit unions are asking is, “which '12-day notice' do we provide in December 2017 for a home equity loan scheduled to close in early January 2018, the old disclosure or the revised disclosure?” Unfortunately, the conservative answer is “neither.”

In Memoriam: Linda Wardlaw of Federal Employees FCU
Thursday, December 14, 2017 6:50 AM

Linda McFerrin Wardlaw of Texarkana, Ark., died Nov. 28, 2017, at her home, surrounded by family. She had been an employee of Federal Employees FCU for 38 years, from 1972-2010, before retiring from her management position.

House Passes Bill with TILA, RESPA Regulatory Relief
Thursday, December 14, 2017 6:45 AM

The House voted 294-129 Tuesday in favor of a bill that would provide mortgage-related regulatory relief. The Community Institution Mortgage Relief Act of 2017 (H.R. 3971) was introduced in October by Rep. Claudia Tenney (R-N.Y.).

NCUA Releases Q3 2017 Credit Union System Performance Data
Thursday, December 14, 2017 6:35 AM

Data on the financial performance of federally insured credit unions in the quarter ending Sept. 30, 2017, are now available from the National Credit Union Administration. View all the details about selected performance indicators, assets, and liabilities and new worth here.

Uber, Michelangelo, and CUs Predict Future with AI, Machine Learning
Thursday, December 14, 2017 6:30 AM

Credit unions and many other organizations have long admired Uber for its signature friction-free app. In fact, the ride-sharing startup is often hailed as something of a pacesetter in user experience circles. What fewer people talk about is Uber’s emerging command of machine learning, an artificial intelligence technology experiencing exponential growth.