Ray Birch

WASHINGTON — NCUA's risk-based capital proposal is drawing more fire from Washington, this time from the chairman of the House Financial Services Committee.

NCUA Chairman Debbie Matz spoke with Credit Union Journal about what the Federal Credit Union Act has meant to the community, how CUs have evolved since then and what lies ahead.

WASHINGTON—The U.S Senate approved the nomination of J. Mark McWatters Thursday to a seat on the NCUA Board of Directors by voice vote.

After serving credit union members for 42 years, CEO Marla Shepard plans to retire from California Coast CU in early 2015.

Experts are divided over whether a U.S. Supreme Court move earlier this week will impact corporate credit union assessments.

Linda Newcomb, the former manager of the failed Lynrocten FCU, was arrested Tuesday as investigators continue to bring to justice former employees suspected of fraud that led to the demise of the $14 million-asset credit union.

Two offices of the $1.8 billion Fairwinds CU were robbed Saturday, and authorities have not ruled out one thief may be responsible for both heists.

MADISON, Wis. — After 37 years with CUNA Mutual Group, Chief Economist Dave Colby is retiring.

SCHAUMBERG, Ill. — Rising home values, increasing consumer confidence in their own financial situations and falling delinquencies all point to the possibility more credit unions will ease mortgage lending standards, say analysts and CU executives.

Another CEO of a small credit union is accused of defrauding the institution she once led.

SCHAUMBERG, Ill. — As the reduction in mortgage demand has some credit unions reaching down to members with slightly lower credit scores, there could be widespread adjustments in home equity lending if this practice increases.

WASHINGTON — CUNA is urging the Senate to take action soon and approve the nomination of J. Mark McWatters to a seat on the NCUA board.

By the end of 2015, 70% of U.S. credit cards and 41% of U.S. debit cards will be EMV enabled, and chip-and-signature will be preferred by issuers out of the gate, according to a recent survey.

The Center for Capital Markets Competitiveness (CCMC) expressed "strong concerns and reservations" about NCUA's proposed risk-based capital rule.

BOSTON — By the end of 2015, 70% of U.S. credit cards and 41% of U.S. debit cards will be EMV enabled, and chip and signature will be preferred by issuers out of the gate, according to a recent survey.

ATLANTA — Credit unions considering sending employees to a health insurance exchange and reimbursing them with tax-free contributions are likely rethinking those plans.

A 73-year-old member of Smart Financial CU tackled a thief as he was attempting to steal her purse.

Doug Ferraro has been named chairman of CO-OP Financial Services' board of directors.

SCHAUMBERG, Ill. — The reduction in mortgage demand has some credit unions reaching down to slightly lower credit scores.

SAGINAW, Mich. — A member of Team One CU found $7,000 in the CU's drive through earlier this week and decided to do the right thing.