GSE Reform Off the Table Until After the Elections: Corker
Despite their major push to overhaul the housing finance market last Congress, Sens. Bob Corker, R-Tenn., and Mark Warner, D-Va., offered little optimism Tuesday that structural reform is on its way anytime soon.   more »
COLUMBUS, Ohio — Business lending CUSO Cooperative Business Services, LLC on Wednesday reported it has closed more than $225 million in Central Ohio business loans since opening its first regional office here in October 2006. more »
Southeast Financial Credit Union in Franklin, Tenn. has filed a lawsuit against The College Network, an Indiana online test preparation company that is facing charges of fraud. more »
In comments to the Treasury Department, traditional financial institutions are calling for more oversight of an industry that is fast becoming a big competitive threat. more »
Federal financial regulators are teaming up to produce a webinar on fair lending law compliance targeted for credit unions. more »
A number of New York financial institutions are stepping away from medallion lending as delinquencies rise and competition for fares intensifies. more »
The Consumer Financial Protection Bureau has struggled internally with how to end potential discrimination in auto lending, including debating whether it should cite a large lender in the hopes of effectively ending the ability of partnering dealers to mark up loans with all lenders. more »
Five credit unions are beta testing a Small Business Administration-compliant lending tool as part of a partnership between the National Federation of Community Development Credit Unions and Minneapolis-based Community Reinvestment Fund, USA. more »
The number of mortgage originations dropped 31% to 6 million in 2014 due largely to a decline in refinancing as interest rates increased, according to a report issued Tuesday by the Federal Financial Institutions Examination Council. more »
As a new entrant to the lending arena, marketplace lenders pose a new, untraditional competitor for borrowers’ business, but credit unions might be able to find ways to work with them, not against them. more »
Nearly a decade since the Federal Reserve last hiked the key short-term Fed Funds Rate, confusion reigns over what the central bank will do at its next policy meeting later this week, but credit unions have already taken steps to prepare for a rising-rate environment. more »
The push to raise the statutory limit on credit union member business lending got a boost Thursday when three U.S. Senators introduced a bill that would allow NCUA to raise a credit union’s MBL cap to 27.5% of assets, from the current limit of 12.25%, provided the CU met certain requirements. more »
Bethpage Federal Credit Union in New York has passed $1 billion in total balances of home equity lines of credit. The $6.1 billion-asset credit union did not provide an exact total for its HELOC balances. The credit union said that it's the top HELOC lender on Long Island, with 16% of the market last year and 36% of all lending through the first quarter of 2015. … more »
All the Right Moves
This spot from American Eagle CU focuses on the credit union's user-friendly mobile banking experience, including "deposits as easy as a selfie."