MADISON, Wis. (8/2/13)--An Wednesday article on a U.S. District Court's decision to strike down the Federal Reserve's price caps on debit interchange fees was the most-read News Now
article in July. In the article, the Credit Union National Association noted the decision will have "a potentially devastating impact on the ability of small debit card issuers, particularly credit unions, to continue offering this vital payments service to their members and customers."
The Top 10 articles for the month included:
10. NCUA Loses Corporate CU Claims Against Barclays Capital
WICHITA, Kan. (7/10/13)--Saying that the claims are time-barred, a federal court in Wichita, Kan., today dismissed the National Credit Union Administration's lawsuit against Barclays Capital over the sale of residential mortgage-backed securities (RMBS) that caused losses to U.S. Central FCU and Western Corporate FCU.
9. Even Lawmakers Tweet: 'I Agree#DontTaxMyCU'
MADISON, Wis (7/24/13)--The "Don't Tax My Credit Union" message lit up Twitter yesterday--the day the Credit Union National Association declared as DontTaxMyCU Tuesday. And at least two congressmen were willing to join in--tweeting agreement with the "Don't Tax" message, and one adding that credit unions are an "essential banking option" to consumers in his state.
8. 'Don't Tax Tuesday' Detailed In New CUNA Video
WASHINGTON (7/22/13)--Credit unions and their members are urged to ignite their advocacy efforts tomorrow on "Don't Tax My CU Tuesday" and light up the social media world to get their message across, says today's edition of "Inside Exchange," the Credit Union National Association's video dialogue on the credit union movement's hottest topics.
7. NCUA Reduces 2013 Spending Plan
ALEXANDRIA, Va. (7/25/13)--The National Credit Union Administration today approved changes to its 2013 operating budget, reducing that budget by $2.6 million.
6. Harland Financial Solutions To Be Sold To Davis + Henderson
SAN ANTONIO (7/23/13)--Harland Clarke Holdings Corp. has entered into an agreement to sell its subsidiary, Harland Financial Solutions, to Davis + Henderson Corp. for $1.2 billion in cash.
5. NEW From ACUC: Indirect Lending--Yea Or Nay?
NEW YORK (7/2/13)--Do credit unions do a disservice to members via indirect lending? Or is this practice a powerful tool that allows members to obtain loans when and where they want?
4. Sen. Brown (D-Ohio) Outlines Upcoming Overdraft Bill
WASHINGTON (7/22/13)--Legislation that aims to prevent financial institutions from reordering account deposits and withdrawals to maximize the amount of overdraft fees that may be charged to accountholders was announced by Sen. Sherrod Brown (D-Ohio) today.
3. CUNA: Corporate Assessments Should End If Current Trends Continue
ALEXANDRIA, Va. (7/26/13)--The National Credit Union Administration approved a corporate stabilization fund assessment of eight basis points (bp) at yesterday's board meeting after reporting on strong performance of the corporate legacy assets. CUNA Chief Economist Bill Hampel believes future assessments may not be necessary, based on that performance as well as housing and economic trends.
2. NCUA To Re-align Regional Supervisory Authority In 2014
ALEXANDRIA, Va. (7/19/13)--To maximize operational efficiency, the National Credit Union Administration says it will re-align its regional supervision of federally insured credit unions in nine states, effective Jan. 1, 2014.
1. Court Rejects Fed Interchange Cap Rule
WASHINGTON (7/31/13)--The U.S. District Court for the District of Columbia issued a decision today striking down the Federal Reserve's price caps on debit interchange fees. U.S. District Court Judge Richard Leon said in his ruling that the Fed did not follow congressional intent when it implemented the cap and other changes imposed by what is known as the Durbin amendment.