NCUA Budget Briefing Shows Both Progress, Areas for Improvement
The public review preceded a Board vote on the agency’s two-year budget, scheduled for Nov. 17. Public comment may be submitted until Nov. 4.
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Financial Impact of Regulation on Oregon, Washington Credit Unions: $306 Million
The financial impact of regulation for Northwest credit unions was $306 million in 2014 alone, according to just released analysis from the Credit Union National Association.
CUNA Study to Document $6.6 Billion Regulatory Burden Costs
Nearly 300 credit unions logged in for CUNA’s first Membership Webinar last week and got a preview of a bombshell study showing the cost of the regulatory burden is $6.6 billion.
FIs’ Certified as Class Members in Target Breach Suit
The decision allows credit unions and other financial institutions to coordinate use of attorneys, collection of evidence, requests of witnesses, and more.
Visa to Contact Credit Unions Over Target Breach Settlement
Target has agreed to reimburse Visa card issuers up to $67 million for costs associated with their massive 2013 data breach.
Help Roll Back Regulatory Burden
CUNA is recruiting 150 credit unions to take part in a landmark study on the rising costs of unnecessary regulatory burden, the results of which will be powerful tools to advocate for regulatory relief.
Join CUNA Study to Fight Regulatory Burden
CUNA is conducting the first-ever comprehensive study on the costs to credit unions of unnecessary regulatory burden. Northwest credit unions are invited to join the study, beginning with a webinar on July 15.
Oregon Legislative Update: Committee Deadline Hits
NWCUA continues working on top priorities as the committee deadline hits and minimum wage bills are heard.
Oregon Legislative Update: NWCUA’s Prize-Linked Savings Bill Passes Committee
House Business and Labor Committee unanimously votes to send prize-linked savings bill to the floor for a vote.
CUNA Launches New Tool to Fight Regulatory Burden
Senate Banking Committee requested true stories of how regulations impact credit unions’ ability to serve their members.
NCUA Approves Budget Increase for 2015, Up to $280 Million
The credit union regulator approved its 2015 budget by a 2-to-1 vote, increasing 4.2 percent over 2014.
Home Depot Breach Cost Northwest Credit Unions $3.2 Million: CUNA
In a new report, CUNA estimated that 7.2 million credit union debit and credit cards were affected nationally, at a cost to credit unions of nearly $60 million.
NWCUA will Use Data Breach Survey Results to Fight for Tougher State, Federal Laws
Credit unions that respond to two online surveys can help the Northwest Credit Union Association build a strong case for legislative action in the wake of national and regional data breaches that compromised the financial information of millions of consumers.
Cost of Responding to the Target Breach in the Northwest: $1.3 Million and Counting
Northwest credit unions have already spent an estimated $1.3 million responding to the massive theft of financial data from Target stores, and the preliminary results of a nationwide survey indicate that those costs could grow substantially if fraud losses mount.
Update: CUNA Posts Online Survey to Gauge Financial Impact of Target Breach
CUNA posted an online survey today to collect information about the costs incurred by credit unions in response to the massive data breach at Target stores nationwide; Alabama State Employees Credit Union files class-action lawsuit; Target warns consumers about phishing emails.
Compliance Question of the Week
Can a federal credit union recoup waived settlement costs on a Member Business Loan?
Exploration of the NCUA Credit Union Derivatives Rule
The NCUA is proposing allowing well-managed credit unions to purchase limited amounts of simple derivatives. Our Compliance team takes a deep dive into what is known so far about the proposed rule.
Strategic Link Question of the Week
Our credit union currently uses multiple suppliers for various products and services. We would like to explore ways to streamline our orders to cut costs, be more efficient, and gain control over our internal procurement behaviors. Do you have any endorsed partners that will streamline our operational needs, including office supplies and facility needs?