Credit Union Tax Status Untouched in Senate Reform Report

The report’s preservation of credit unions’ tax status shows that credit union advocates were heard.

Compliance Center: Supreme Court Rules Disparate Impact Claims Allowed Under Fair Housing Act

Learn more about the Supreme Court’s decision; your question answered on refunding garnishments; plus this week’s legal briefs.

CUNA Mutual Group: U.S. Credit Union Savings Pass the Trillion Dollar Mark for the First Time

A new CUNA Mutual Group report shows strong growth in savings, loans and memberships,
suggests strengthening middle-market economy. New auto loan balances increase at fastest pace on record.

Compliance Center: New CUNA Tools to Help Credit Unions With TILA/RESPA Compliance

New TILA/RESPA tools; your questions answered about how to ID a minor; plus this week’s legal briefs.

NCUA Launches Small Business Lending Resource Center

New NCUA resource center gives details on member business lending rules; we answer your question about exempt businesses filling out W-9s; plus this week’s legal briefs.

Explore the ECONorthwest Report Online Toolkit

Our comprehensive toolkit is full of valuable resources for you to easily share the impact of Northwest credit unions.

Late Call Reports Decline, But Fines Forthcoming

The NCUA reported Monday that 75 credit unions were late in filing their call reports. NWCUA members who filed late with good reason are encouraged to contact the Association.

CFPB Report on Small Debit Purchases and Overdraft Charges

The CFPB is concerned about how consumers will be impacted by opting in to overdraft services for one-time debit card and ATM transactions. Also in the Compliance Center: legal briefs and the question of the week.

Global Credit Union Community Serving 208 Million Members

The global credit union community is now 57,000 credit unions strong, serving 208 million members. The World Council of Credit Unions has released a new statistical report.

Credit Unions: Good for Consumers, Careers and Businesses

The July-August edition of Oregon Business Magazine showcases credit unions. A trio of op-ed pieces details the value to consumers as well as to local businesses.

NCUA Fines Five Northwest Credit Unions for Late Call Reports; NWCUA Urges Regulator to Improve its Filing System

The NCUA made good on its threat to fine credit unions for filing late Q1 call reports. Five Northwest credit unions are among those being hit with financial penalties.

Filene Report Finds Gen Y Struggles with Personal Finances

As financial institutions race to lure “Gen Y” consumers, a new report from the Filene Research Institute finds what that generation needs most, is what credit unions do best.

Identity Theft: How to Avoid It, and What To Do If You Become a Victim

Recent data breaches at Target and other retailers have been in the news a lot, but identity theft can take many forms. Do your members know how to prevent identity theft? Do they know what to do if their personal or financial information is compromised? Check out these great strategies from CSCU – and pass them along to members now!

NCUA Plan to Levy Fines for Late Call Reports ‘Excessive,’ NWCUA’s Stang Says

Plans by the National Credit Union Administration to levy fines against credit unions that miss quarterly filing deadlines for their 5300 Call Reports drew immediate reactions from national and regional executives Thursday, with NWCUA President/CEO Troy Stang calling the move “excessive.”

CUNA, NWCUA Urge Credit Unions to Track Expenses Caused by Target Data Breach

CUNA and the Northwest Credit Union Association are asking credit unions to keep detailed records of the costs they’re incurring in response to the recent data breach at Target stores nationwide as both organizations continue to demand that merchants be held accountable for more than just the damage to their own reputations.

Target Confirms Massive Data Breach; 40 Million Cards May Be Affected

Financial institutions and consumers are reeling this morning from news of a massive data breach at Target stores nationwide that could affect as many as 40 million credit and debit card accounts, making it potentially one of the largest retail breaches in U.S. history.

Legal Briefs

Your weekly update on the regulatory landscape.

NCUA Releases Final Rule on Federally Insured Credit Union CUSOs

The National Credit Union Administration (NCUA) released its final rule addressing CUSO supervision during its board meeting in Washington, D.C., last week.