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CFPB Releases Loss Mitigation Principle

Document outlines their principles to provide a framework for discussion about the future of loss mitigation.

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NWCUA Mourns Passing of Sen. Alan Bates

Well-regarded by colleagues, the legislator brought a physician’s background to his work in Oregon Senate. He was 71.

NWCUA’s Troy Stang Tells Fox Business: Loss of Tax Exemption Would Impact Members’ Wallets

Troy Stang, Northwest Credit Union Association president and CEO, told a nationwide audience on the Fox Business network this week that the loss of credit unions’ federal tax exemption would have a negative impact on the U.S. economy.

CFPB Releases Report on Mortgage Servicing Problems

A CFPB report details mortgage servicing problems at banks and other institutions. Many of the issues the report uncovers are harmful to consumers.

Is Your Disaster Plan Up to the Test?

Brad Mundine, senior manager of the Credit Union Protection Risk Management team for Strategic Link strategic partner CUNA Mutual Group, explains that when it comes to disaster planning, writing the plan is only the first step.

Credit Union Family Suffers Tragic Loss

Beloved WECU Business Loan Officer Jim Langei and his wife, Sterling Taylor, passed away as a result of a marina fire on March 30. A joint “Celebration of Life” will be held for the couple in Bellingham on April 14.

Regulators Release Guidance on Junior Lien Loss Allowances

The four federal financial regulatory agencies issued supervisory guidance on certain ALLL estimation practices. It addresses the responsibilities of financial institution management and examiners and builds on existing supervisory guidance.

Compliance Question of the Week

Can a credit union stop payment on a cashier’s check, teller’s check or certified check?

CUNA Mutual Answers Volunteer Indemnification FAQs

With volunteers’ fiduciary duties changing, CUNA Mutual suggests questions to ask your liability policy provider about your D&O coverage.

Reduce Uninsured Losses by Differentiating ‘Pure Risk’ from ‘Uninsurable Risk’

It can be difficult understanding which types of loss your credit union’s fidelity bond does and does not cover. A legal and risk-management concept that can help clarify this is “pure risk” versus “uninsurable risk.”

Make Sure You Have the Facts About Reg E Before Discounting Its Impact

Despite the remaining confusion in the marketplace about the implications of new regulations, you know that your members expect you to provide the services they need.