MADISON, Wis. (8/2/12)--An article about the potential cost of reduced credit card interchange rate fees--mandated as a result of an historic lawsuit settlement between merchants and credit card companies--was the most read News Now
article in July.
The top ten articles in July included:10. Credit reporting agencies to come under CFPB scrutiny
WASHINGTON (7/17/12)--The Consumer Financial Protection Bureau this fall will begin supervision and examination of consumer credit reporting agencies with more than $7 million in annual receipts, the agency announced on Monday.9. Visa shares conversion: CUs won't see major impact
SAN FRANCISCO (7/26/12)--Visa is adding $150 million to a litigation escrow by converting some of its Class B shares held by credit unions and banks to help fund its share of liabilities in the aftermath of a proposed $6.05 billion settlement announced earlier this month. The move will affect credit unions, but should not have a major impact.8. NCUA to shift exam focus to largest CUs
ALEXANDRIA, Va. (7/27/12)--Noting that one-size-fits-all supervision is "no longer appropriate in a credit union industry with nearly 100 million members and more than $1 trillion in assets," National Credit Union Administration Chairman Debbie Matz on Thursday announced a new office that will focus on regulating corporate and high-asset credit unions.7. Top 10 payment trends to watch
CINCINNATI (7/23/12)--Vying for share of wallet is the No. 1 payment processing trend shaping up for 2012 in an industry undergoing a number of changes, according to a report from a payment processor.6. Vermont CU says it's targeted in bank battle
MONTPELIER, Vt. (7/18/12)--Vermont State Employees CU has filed an appeal with the Vermont Department of Financial Regulation (DFR) after DFR issued a cease-and-desist order notice to prevent VSECU from using the word "banking" in its marketing, communications, and ads to describe its services.5. Exam issues remain high priority: CUs to NCUA
SAN DIEGO, Calif. (7/13/12)--Examination issues again loomed large as the National Credit Union Administration this week held its fifth credit union listening session in San Diego, Calif.4. Capital One fines prompt CFPB card guidance
WASHINGTON (7/19/12)--Credit unions should be aware of compliance guidance posted yesterday by the Consumer Financial Protection Bureau that addresses marketing practices associated with certain "add-on" features related to credit cards.3. Trust in big banks collapses, CUs see largest gain
CHICAGO (7/25/12)--Only 21% of Americans surveyed trust the financial system, the lowest point on record since March 2009, according to the most recent Chicago Booth/Kellogg School Financial Trust Index. However, trust in credit unions increased, rising to 63% from 58%.2. Gov. signs Calif. homeowner bill of rights
LOS ANGELES (7/13/12)--California Gov. Jerry Brown Wednesday signed the "Homeowner Bill of Rights" into law in Los Angeles. The bill will go into effect Jan. 1. Credit unions will be impacted by the legislation, which is the first of its kind in the U.S.1. Settlement could bring a $50 million cost for CUs
WASHINGTON (7/16/12)--Reduced credit card interchange rate fees--mandated as a result of an historic lawsuit settlement between merchants and credit card companies--could cost credit unions with credit card programs up to a total of $50 million, according to estimates by the Credit Union National Association.