Straight to The Point: August 7, 2018

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star3 The New York Credit Union Association has received reports that an individual calling himself a “tax policy expert” is circulating unsolicited emails that call on small and mid-size credit unions to sign on to a letter condemning larger-asset-size credit unions. The Association vehemently disapproves of this divisive initiative and is encouraging New York credit unions to disregard the letter – The Point

star3 In a letter sent yesterday to credit union leadership, NCUA provided more information on several initiatives the agency has undertaken in an effort to improve and modernize examinations and supervision NCUA

star3 The 2018 Tech Forward Conference will explore the newest and emerging technologies impacting New York’s credit unions. The conference will be held Oct. 11-12 at the Desmond Hotel in Albany, and registration is open – NYCUA

star3 Hiring a compliance expert to tackle regulatory changes, and to conduct audits and training is typically unattainable for many small credit unions – unless you’re one of the 14 credit unions in New York that has joined arms to hire a shared compliance professional – CU Times

star3 Legislation has been introduced to the U.S. Senate that would curtail the ability of banks and credit unions to impose overdraft fees on customers and members CUToday

star3 The midterm elections are shaping up to have a significant impact on the Senate’s banking policy agenda in the next CongressAmerican Banker

star3 Wells Fargo disclosed another round of lapses and potential scandals in a quarterly report, saying it faces a U.S. inquiry into its purchase of low-income housing credits and conceding it may have unnecessarily foreclosed on about 400 homeowners Bloomberg

star3 Corporate political action committees are increasing their contributions to several Democrats who are in line to lead powerful committees if their party retakes the House in November, another sign of the burgeoning expectations for Democrats’ showing in the midterms Politico

star3 NCUA lost a round in court in its continuing effort to sue investment banks for their failure to adequately underwrite the mortgage-backed securities that led to the demise of five corporate credit unions New York’s State of Mind

 

 

 

 

 

 

 

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