What’s Next for Interchange?

This Federal update reviews the Federal Reserve’s next steps on the interchange issue and everything that was going on in DC last week.

Last Day to Get In Awards Nominations

The deadline for many of the Association’s awards, which are administered and presented by the Oregon and Washington Credit Union Foundations, is tomorrow, June 15.

Want Less Compliance Burden? Do Some Regulatory Advocacy

Comments are open on Automated Clearing House risk management and regulations that come under the CFPB.

Compliance Question of the Week

Can a credit union require a borrower, who has a less than stellar credit history, to triple the amount of money that goes into the escrow account?

Harland Clarke Raises $1,600 for CUAid at CUNA CFO Council Conference

The funds will go to CUAid’s current relief campaigns for the Joplin tornado and the severe line of storms in the South.

Citibank Confirms Hacking Attack

The breach exposed the names of customers, account numbers and contact information of around 210,000 individuals.

Association Hires AVP Heider, Increase Focus on Communications

Just in time for the next stage in the interchange regulatory process, the Association has hired Lynn Heider as the new AVP of Communications to oversee the department and ensure the credit union message gets out to the press and the public.

Foundation Accepting Cycle 2 Scholarship Applications

The Washington Foundation offers up to $1,500 a year to credit union staff and volunteers for professional development.

Unitus CCU Announces 2011 Scholarship Recipients

This year, Unitus has awarded 11 scholarships to graduating high school, undergraduate and graduate students. Each winner will receive $1,000 toward his or her tuition for the 2011-2012 academic year.

Comments Received on Corporate Prepayment Program to Be Made Public

Unless it hears concerns about making the comments public on or before June 10, the NCUA will post all comments on its website. Comments on the prepayment program accepted until June 20.

Legal Briefs

Your update on the regulatory landscape.

NWCUA Services Corp., CU Solutions Group Create New Services Alliance

The agreement covers a variety of products offered by CU Solutions Group including Invest in America member enhancement solutions with Sprint, General Motors and TurboTax.

Interchange Fight Moves On From Senate

Despite the failure of the Tester-Corker Amendment, the interchange fight will continue with dialogue with the regulators and by working through the courts.