Richard Cordray, director of the Consumer Financial Protection Bureau, told credit unions today he is working to promote the kind of service model that CUs have always offered, and that CUs have no reason to fear new mortgage rules.

COPPELL, Texas – The Merchants Customer Exchange, a fledgling mobile payments system being created by retail giants fighting the Visa and MasterCard card networks, announced a major milestone this morning, an agreement with FIS to power its mobile commerce network.

PITTSFIELD. Mass. -- A former teller at Greylock FCU was sentenced yesterday to three years behind bars for stealing $200,000 from the credit union.

CENTENNIAL, Colo. – CU Direct Connect said it has introduced proprietary technology internally titled “The Opportunity Pool,” which enables credit unions to fund more auto loans based on their pre-set criteria.

WETHERSFIELD, Conn. – State regulators okayed the merger of struggling, $32-million Capital Region FCU into $200-million Dutch Point CU.

BOSTON – TruStage said it has enhanced its application process to allow credit union members eligible for accidental death and dismemberment (AD&D) insurance to obtain coverage in three minutes or less at no cost.

ST. PAUL, Minn. – Affinity Plus FCU said it has signed with Video Guidance of nearby Bloomington, Minn., to include video conferencing as an important component of its communications strategy.

WOODLAND HILLS, Calif. – First Entertainment CU, the credit union for Hollywood, has joined forces with Entertainment Partners to promote the health and wellness of entertainment industry members.

BOSTON – Many credit unions and vendors have built sophisticated metrics around various numbers inside credit unions, but one area not being measured well is payments, according to one person.

BOSTON – Credit unions are contributing to what one person is calling the “Red Suit Vision” – the hope that women will hold 30% of top leadership positions in corporate America within the next decade.

BOSTON – For a credit union to really grow and succeed, it must look to “the fourth option.”

WASHINGTON – NCUA and banking regulators on Wednesday issued a proposed rule that would create exemptions from certain appraisal requirements for a subset of higher-priced mortgage loans.

WASHINGTON – A proposal from Democrats to retroactively lower interest rates on federally subsidized student loans failed a test vote in the Senate on Wednesday.

WICHITA, Kan. – A federal court this afternoon dismissed a suit brought by NCUA against Barclay’s Capital for the sale of $555 million of faulty mortgage-backed securities to U.S. Central FCU and WesCorp FCU, one of nine suits NCUA has filed against Wall Street banks over the failure of the two corporate giants.

WASHINGTON – A bill introduced in Congress this afternoon would update federal banking laws to provide marijuana-related businesses access to banking and credit union services.

ALEXANDRIA, Va. – NCUA announced this morning it has sold Autoland, a car buying service for more than 200 credit union that was owned by failed Telesis Community CU, to Mission FCU in San Diego.

MANSFIELD, Texas – Texas Trus CU announced this morning it has agreed to merge into it Arlington-based Security One FCU, the $57 million former General Motors auto workers credit union, which will give the $760 million credit union two additional branches, for a total of 12.

KOKOMO, Ind. – Police on Monday arrested a suspect who they say is connected to two robberies of Kokomo Heritage FCU.

MANHATTAN BEACH, Calif. – Kinecta FCU and Family FCU are teaming with the Boys and Girls Club to offer a financial education camp next week.

KEARNS, Utah – Newspaper Employees CU, the one-time credit union for employees of the Salt Lake Tribune, has agreed to be merged into American United Family of CUs FCU, making it the latest newspaper employees’ credit union to halt the presses.