Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Inside Washington (04/28/2008)
* WASHINGTON (4/29/09)--From left, CUNA Communication Specialist Marta Trinkl; Paula Moreno, marketing manager, U.S. Senate FCU; and Greta Brown, member service officer, also with Senate FCU share a booth during Financial Literacy Day on Capitol Hill. The event was spearheaded by the Jumpstart Coalition for Financial Literacy and was held to educate members of Congress and their staff about the financial literacy efforts of the participating government, nonprofit and corporate organizations. CUNA also partners with National Endowment for Financial Education to provide free financial education materials to high schools and is a member of the Jumpstart board... * WASHINGTON (4/29/08)--The Financial Crimes Enforcement Network (FinCEN) and the Office of the Comptroller of the Currency (OCC) announced that they have fined the New York Branch of United Bank for Africa $15 million each for violating the Bank Secrecy Act (BSA). The branch has agreed to pay $15 million of the total amount without admitting or denying the violation. The OCC issued the branch a cease-and-desist order in January 2007. During a November 2007 examination, the agency found that the branch failed to comply with the order’s term, so a second cease-and-desist order was issued Feb. 29 ... * WASHINGTON (4/29/08)--Mortgage lenders are fighting against rules proposed by the Federal Reserve Board to curb lending abuses and prevent more problems in the housing market (The New York Times April 28). Some industry representatives complain the rules would be expensive because they could create more paperwork and make lenders more susceptible to lawsuits. During a comment period this month, the Fed received more than 5,000 comments from lenders who said the rules could be problematic for loans unaffected by the housing crisis. The Mortgage Bankers Association, Community Bankers of America and the American Bankers Association also have criticized the plan. Smaller financial institutions that did not contribute to the mortgage mess have encouraged the Fed to limit the rules to prevent a chilling effect, and Fed Gov. Randall Kroszner said in a speech that the Fed is considering narrowing the scope ... * WASHINGTON (4/29/08)--The Federal Reserve is scheduled Friday to release a proposal that defines unfair and deceptive credit card practices (American Banker April 28). The Fed also is working on Regulation Z revisions for credit card disclosure practices, and a second Regulation Z proposal that coordinates with the deceptive practices proposal could be released ...


RSS print
News Now LiveWire
.@CUANYtweets hiking the Hill today with young #creditunion professionals http://t.co/9xgH2Aw2OM
8 minutes ago
.@CUSocialGood, @CafeGive partnership to measure Return on Intent for social, community efforts See #NewsNow http://t.co/LfpUes76KG
55 minutes ago
Economic activity slowed in June, according to the #Chicago Fed's national activity index, released today #Market http://t.co/1pN6peM8my
16 hours ago
Money burns a hole in workers' pockets after payday, despite best intentions via @WSJeconomy http://t.co/A9SNiUdf9v
16 hours ago
"SAR Stats," new from #FinCEN, focuses on #bitcoin. See #NewsNow http://t.co/vS7iTwY2SW
18 hours ago