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CU System Briefs (07/29/2013)
  • WASHINGTON, D.C. (7/29/13)--The Consumer Financial Protection Bureau's (CFPB) recent amendments to clarify the Ability-to-Repay and mortgage-servicing rules, proposed in April and finalized earlier this month, have been published in the Federal Register. The clarifications are meant to address questions that were posed in the months since the rules were first issued in January. CFPB Director Richard Cordray has said that the bureau is "listening closely to feedback" on its rules and these clarifications "show our willingness to make appropriate adjustments" ...
  • LAREDO, Texas (7/29/13)--A former Laredo (Texas) FCU employee, who pleaded guilty to robbing the credit union of $177,000 at gunpoint on Jan. 6, 2012, was sentenced to more than 10 years in prison Thursday in a U.S. District Court in Laredo (Laredo Morning Times July 25).  Asael Cruz's sentence will be followed by a five-year supervised release and150 hours of community service. He will pay more than $7,689 in restitution to the credit union and a custodian whose truck was stolen for the getaway.  The robbery occurred when the suspect confronted a teller who was exiting the building by a rear door. Cruz allegedly pointed a handgun at the victim and ordered him to stay on the floor face down. When the teller couldn't provide a combination to the door, Cruz allegedly grabbed the employee's wallet, checked his driver's license, and called him by name, saying he would keep the license in case anything "goes bad." He bound he man's wrist, ankles and mouth with tape before robbing the credit union ...
  • BELMONT, Calif. (7/29/13)--Belmont, Calif., police arrested Carmen Joseph Polito, 31, a transient, Wednesday in connection with a robbery of Redwood City-based Provident CU Tuesday. Polito was arrested as he walked along a city street. At about 2:30 p.m. Tuesday a man entered the credit union and handed a teller a note demanding money. The teller gave him money from the cash drawer and Polito repeated the process with a second teller, this time demanding the money verbally before fleeing with the money, said Redwood City police. Police recovered money and a demand note during the arrest (CBS San Francisco July 26 and Belmont Patch July 25) ...
  • PORTLAND, Maine (7/29/13)--Richard "Spike" Carey, former long-time director of Waterville, Maine-based New Dimensions FCU, died July 19, according to the Maine Credit Union League (Weekly Update July 29). Carey also served in the Maine Legislature for many years, where he was known as a strong friend of credit unions, the league said. Carey also served as mayor of Waterville in the 1970s ...


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