February 28th, 2018188The House passed a CUNA-approved act amending the Real Estate Settlement Procedures Act on Tuesday.
According to the Credit Union National Association, the TRID Improvement Act of 2018, or H.R. 5078, would require the Consumer Financial Protection Bureau "to allow the accurate disclosure of title insurance premiums and any potential available discounts to home-buyers."
CUNA President and CEO Jim Nussle said the legislation would "reduce confusion associated with the ability for title insurance companies to disclose available discounts."
"This kind of targeted regulatory relief benefits credit unions and consumers, who will have...
February 27th, 2018095Credit union leaders chatted with President Donald Trump about regulatory relief Monday.
>>Related: Former President George W. Bush speaks at CUNA Governmental Affairs Conference<<
The leaders, including CUNA President and CEO Jim Nussle, left CUNA's Governmental Affairs Conference briefly to have the conversation with Trump, according to a CUNA article. The group talked to the president about the burdens facing credit unions and what government could do to fix them, including supporting S. 2155, the Senate's bipartisan regulatory relief bill.
"We shared our dissatisfaction with the regulatory burden in place,"...
February 26th, 2018196A total of 5,000 credit union professionals from around the country gathered to listen as former President George W. Bush spoke at CUNA's Governmental Affairs Conference.
CUNA President and CEO Jim Nussle interviewed the 43rd president of the United States on topics including relationships with China, Mexico and North Korea, lessons learned during
his presidency, qualities needed to be an effective leader and the importance of public service and meeting the needs of everyday Americans.
"Gaining insight from our past can help guide us moving forward," Nussle said. "It was truly my pleasure to discuss the current state...
February 23rd, 20181221The Georgia credit Union League joined the Credit Union National Association and the National Association of Federally-Insured Credit Unions in filing an amicus brief defending a credit union hit with a lawsuit over overdraft services.
The amicus brief was filed with the U.S. Court of Appeals for the 11th Circuit to defend LGE Community Credit Union, a credit union based in Marietta, in Tims v. LGE Community CU. The lawsuit is one of 30 class action suits against credit unions and community banks challenging their method of assessing overdraft fees based on the "available balance" rather than the "ledger balance" in member...
February 23rd, 201831374At least four Georgia credit unions have joined 31 other credit unions nation-wide that have partnered with online car dealership Carvana in the last few months.
"Our model is aligned with credit unions," said Chief Product Officer Dan Gill in a Credit Union Journal article. "We roll out our business one market at a time. We do targeted marketing in the geography where we are present. Credit unions tend to have geographically centered memberships. They also have a reputation for great service and great rates. We align with that credit union philosophy."
(Credit Unions) also have a reputation for great service and great rates. We align...
February 23rd, 20180123Nearly a dozen Illinois credit unions are now taking advantage of a loan program offered through a CUSO developed by Georgia Credit Union Services and three Georgia CUs, according to a CUInsight article.
Up until recently, state-chartered credit unions weren't allowed to invest in these sorts of loan pools.
The CULS Loan Program is offered through LSC and Credit Union Loan Source, which was organized and chartered in 2004 by Georgia Credit Union Services, Inc., Delta Community Credit Union, Atlanta Postal Credit Union and Georgia's Own Credit Union.
"The CULS participation model originates prime and super prime loans and provides...
February 22nd, 20180105CUNA President / CEO Jim Nussle recently weighed in against a bill in Iowa senate that would place an additional tax on credit unions.
Senate Study Bill 3197 would raise taxes on Iowa credit union members and reduce taxes on banks an their stockholders — many of whom do not live in the state. Nussle wrote a letter to Iowa Senate members about the proposed legislation on Thursday.
"It would make it more expensive for Iowans to access safe and affordable credit provided by not-for-profit financial cooperatives," Nussle wrote. "This legislation is bad for Iowa and we urge this body to soundly reject it."
Nussle, a native Iowan,...
February 6th, 2018189This Black History Month, the National Federation of Community Development Credit Unions and the African-American Credit Union Coalition have joined forces to celebrate African American credit unions in a social media campaign that illustrates the impact of credit unions on their members and communities.
The Federation promotes financial inclusion by organizing, supporting, and investing in credit unions that specialize in serving communities with limited access to affordable financial services. It includes many minority designated credit unions among its members.
"The Federation was organized over 40 years ago by primarily minority...
January 29th, 2018098The Michigan Credit Union League has filed an amicus brief in Federal Court supporting American 1 Credit Union as it battles a law suit alleging non-compliance with the Americans with Disabilities Axt.
MCUL’s brief is in support of a motion to dismiss filed by attorney and counselor Michael M. Bell of Howard & Howard law firm.
The lawsuit is the latest in a series brought by trial attorneys seeking judicial interpretation of the ADA as it applies to website accessibility, according to a MCUL press release.
“It’s unfortunate that in the absence of regulatory guidance, credit unions are forced to expend valuable time and...
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