Ted Knutson

The National Credit Union Administration will start fining credit unions that file call reports after the April 25 deadline for the first quarter, an agency spokesman told Credit Union Journal Thursday immediately following the agency's March board meeting.

WASHINGTON -- The long-standing credit union tax exemption was preserved in a draft tax reform plan unveiled by the chairman of the House Ways and Means Committee last week.

Small federal credit unions can improve their bottom lines by tapping into two often overlooked sources of funds, a CEO who has taken advantage of them told attendees a CUNA Governmental Affairs Conference forum.

House Ways and Means Committee Chairman Dave Camp's (R-MI) said the tax exemption for credit unions is "not going to be addressed" in his draft tax reform plan unveiled Wednesday afternoon.

Credit unions should expect new Consumer Financial Protection Bureau rules on mortgage closings and credit reports this year, a panel at CUNA's Governmental Affairs Conference warned attendees Tuesday.

ALEXANDRIA, Va. -- Federal credit union failures dropped by close to a quarter from 22 in 2012 to 17 in 2013, NCUA reported Thursday.

The new fines for late call reports at NCUA and the need for CUs to not shy away from mortgages in light of the CFPB's qualified mortgage rule were among the hot topics during a joint conference call featuring NCUA Chairman Debbie Matz and CFPB Director Richard Cordray late Wednesday.

Real-time payments provide opportunities for fraud and errors, credit union executives say.

Credit Unions are warning the Federal Reserve that moving to a real-time payment system would increase IT and personnel costs, but a failure to make the move could endanger them and other domestic financial institutions.

The mammoth agricultural bill which passed the U.S. Senate Tuesday could make agricultural lending a riskier business for credit unions.

WASHINGTON -- Consumer Financial Protection Bureau Director Richard Cordray told members of Congress Tuesday that the agency's qualified mortgage/ability-to-pay rules will not crimp credit union home lending to low- and moderate-income members.

WASHINGTON -- EMV-enabled credit and debit cards wouldn't have prevented the Target data breach in the United States because the information theft occurred in the retailer's servers, the Credit Union National Association said Monday in a letter to Congress and in comments to the press.

Forced savings and education are two of the most helpful features for payday alternative borrowing programs to wean members off traditional payday lenders, credit union executives said during an NCUA webinar on the underserved Wednesday.

The Consumer Financial Protection Bureau said Wednesday it is seeking applications for its Credit Union Advisory Council.

WASHINGTON -- The industry's two largest trade groups are telling Congress Tuesday credit unions need relief from the Consumer Financial Protection Bureau's qualified mortgage rule because of high compliance costs and restrictions on serving members.

The data security breach impacting 40 million credit and debit cards at Target during the holiday shopping season boosts the wisdom of larger transaction fees charged by credit unions to retailers, CUNA Senior Vice President for Research and Policy Analysis Bill Hampel said Monday.

CUNA wants the Federal Housing Finance Agency's new director to reverse course and clarify several actions set by his processor that the trade group fears could harm credit unions.

The National Association of State Credit Union Supervisors is warning that if results of proposed mandatory annual stress tests for institutions bigger than $10 billion in assets are made public, they could endanger the National Credit Union Share Insurance Fund by mistakenly promoting runs.

WASHINGTON -- NCUA is collaborating with the federal bank regulators in a 10-year review of rules, the Government Accountability Office said in report.

WASHINGTON — Mandatory arbitration, a flash point for consumer advocates, is much less common at credit unions for credit cards and checking accounts disputes than at big banks, the Consumer Financial Protection Bureau reported Thursday.