NCUA Issues Regulatory Alert Regarding Ability to Repay and Qualified Mortgage Rules

The National Credit Union Administration has issued a regulatory alert to all federally insured credit unions focusing on the Ability-to-Repay (ATR) and Qualified Mortgage (QM) requirements that go into effect on Friday, Jan. 10.

CSCU Answers Questions about Credit Card Surcharges

Late last month, merchants in the United States were granted the ability to impose a surcharge on credit card transactions, giving businesses a piece of the interchange pie while leaving consumers and financial institutions with a sea of unanswered questions.

Merchant Surcharging on Credit Cards Quietly Began on Jan. 27

As of Sunday, merchants in the United States and U.S. Territories can now impose transaction surcharges on consumers using credit cards. The new ability to collect the surcharge stems from last summer’s antitrust class-action settlement between VISA and MasterCard and a large group of merchants.

Does Your Credit Union’s Lending Department Need a ‘Business-Model Expert?’

The Business Lending School has opened enrollment for an intense six-month training course offering immersion-level training in both a classroom and credit union setting. “When it comes to business lending,” said instructor Robert Hogan, “if attending business-lender training prevents one commercial loan from going bad, they would have paid for training for the entire credit union.”

CFPB Issues Highly Anticipated Ability-to-Repay Mortgage Rule

A rule issued today by the CFPB today that protects consumers from certain irresponsible mortgage lending practices and requires lenders to ensure homebuyers will be capable of repaying the mortgage also includes some safe harbors and exemptions for credit unions.

Credit Unions Must E-file BSA Forms by July 1

FinCEN will require almost all BSA reports, including CTRs, SARs and designations of exempt persons, to be e-filed as of July 1.

The Case for Supplemental Capital: A Credit Union Shares its Story

Credit unions face the prospect of turning away new members without the ability to raise supplemental capital. Asking for Congressional support is on the agenda for the June “Hike the Hill” event.

NWCUA Seeks Nominations for Board of Directors

The NWCUA will accept nominations for all board of director positions from April 16-30. Board members are responsible for establishing the Association’s policy and governance direction and representing their district or asset-size category.

NWCUA Issues Localized Supplemental Capital Information

As supplemental capital legislation progresses in Congress, the NWCUA has issued talking points to help Northwest credit union leaders discuss the issue with legislators and the media.

Fed Proposes Rule Under Reg. Z Pertaining to Ability to Repay Mortgage and Minimum Underwriting Standards

The proposal would apply to all consumer mortgages except home equity lines of credit, timeshare plans, reverse mortgages, or temporary loans.

NWCUA’s Stang Meets NCUA Chairman Matz, Hands Over Industry Letter

NWCUA President Troy Stang met with NCUA Chairman Debbie Matz and hand delivered a letter signed by multiple credit union trade groups.