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Industry's Hopes of Killing 'Disparate Impact' End with Thud
When the Supreme Court agreed to hear a Texas "disparate impact" case last year, many financial institutions hoped it would end the use of the divisive legal theory used by regulators and other authorities. But the court's Thursday decision, by contrast, appears to strengthen the government's hand.  more »
The CFPB is helping to reshape mortgage and payday lending, but its attempts to curb abuses in auto lending have been largely stymied by car dealers and the fragmented nature of auto finance. more »
SECU of Maryland has licensed Rate Reset to allow members to "reset" loan rates without going through a formal refinancing process. more »
Senate Democrats are urging regulators to investigate potential discrimination in how financial institutions handle and market foreclosed homes. more »
In what would be the first comprehensive rewrite of its member business lending regulation since 2003, the NCUA Board unanimously approved a proposed series of changes that would make it markedly easier for CUs to lend to businesses. more »
Six banks including JPMorgan Chase and Wells Fargo have been placed under further business restrictions after the Office of the Comptroller of the Currency determined they had yet to fully meet regulatory orders related to the independent foreclosure review which began in 2011. more »
The $65 million-asset ADP Federal Credit Union in Roseland, N.J., and the $28 million-asset Members Credit Union in Cos Cob, Conn., both have implemented the GrooveCar Direct product. more »
The Spanish-language TV channel Univision has launched a new online small-business lending platform. more »
Nearly a year after they first announced their intention to combine, the Home Loan Banks of Des Moines and Seattle completed last week the first voluntary merger in the system's history. more »
Demand for automobile loans has soared to new levels, Equifax said in a Thursday report. Meanwhile, delinquencies of 60 days or more have hit their lowest point in nearly a decade. more »
ElecTel Cooperative FCU here celebrated National Donut Day Friday with a "Hot Loans Now" promotion for personal loans that pulled in more than $560,000. Rates started at 1.99% for one year, 2.99% for two years and 3.99% for three years, and the credit union did not put a cap on how much members are eligible for. more »
The Nevada Credit Union League said it helped support and defeat several bills in the Nevada legislature that would have affected credit unions in the Silver State. more »
The rate of small business loan approvals have remained largely stagnant — and at historically low rates — over the past year at credit unions, while such rates have been gradually edging upwards at the big banks, according to the Biz2Credit Small Business Lending Index, a monthly analysis by Biz2Credit. more »
PayThink
Sep 28 – 30, 2015   Las Vegas, NV
The Cosmopolitan of Las Vegas
Car-Buying GPS
This video focusing on car-buying tips is one of three similar spots from the Young Adult Advisory Panel at CU West in Glendale, Arizona. More YAAP videos can be seen at youtube.com/creditunionwest