November 6, 2013
Wednesday Edition
Final results from Tuesday's AL-01 special runoff election

The race to determine who will get the GOP nomination for the vacant House of Representatives seat left by Rep. Jo Bonner went down to the wire Tuesday night with former state Sen. Bradley Byrne coming out victorious.

He will face-off with Democrat Burton LeFlore in the Dec. 17 general election.

Preliminary results compiled by AL.com and the Press-Register show Byrne won with 52.5 percent of the vote. His competitor, Orange Beach real estate investor Dean Young, won 47.5 percent of the vote.

For the complete story visit AL.com

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CUNA's Hampel presents CU, member housing reform views

During his Senate testimony yesterday on housing finance reform, CUNA Chief Economist Bill Hampel emphasized that qualifying credit union members need to be able to buy or finance their homes in a stable mortgage market.

Hampel testified before the Senate Banking Committee hearing entitled "Housing Finance Reform: Protecting Small Lender Access to the Secondary Mortgage Market."

"As long as credit unions produce one or more eligible mortgages, they should be able to sell them to an issuer of government-backed securities, directly or through an aggregator, at market prices, for cash, without volume penalties, and with the option to retain servicing," Hampel told the Senate panel.

Hampel called on the U.S. Congress to ensure that credit unions "continue to be afforded the opportunity to provide mortgage servicing services to their members in a cost-effective and member-service oriented manner, in order to ensure a completely integrated mortgage experience for credit union members/borrowers."

Standardization at all steps in the mortgage process is important to credit unions, he emphasized.

Click here to view the full CUNA News Now article.

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Nominations for NCUA consulting now open

Credit unions with total assets under $50 million, a new charter (fewer than 10 years), or a low-income designation are eligible for the NCUA Consulting Program. Credit unions may nominate themselves or be nominated by their NCUA examiner. Credit unions not chosen in one round may apply again in subsequent rounds.

NCUA’s consulting services are provided by experienced economic development specialists who offer assistance to credit unions in the areas of budgeting, marketing, policy development, strategic planning, and operational and regulatory areas. Selected credit unions receive assistance for a six-month period.

Interested credit unions can learn more about NCUA’s Consulting Program by watching these videos. For additional information, click here or contact the Office of Small Credit Union Initiatives via email.

Click here to submit a nomination. Credit unions have until Nov. 30 at 5 p.m. EST. to apply.

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CUNA requests feedback on CFPB remittance transfer rollout

The CFPB’s Remittance Transfer Rule became effective on Monday, Oct. 28. Many credit unions were ready and are now complying with the new requirements. Other credit unions have chosen to suspend or even terminate their remittance services altogether because of the compliance burdens imposed by the new rule. CUNA is seeking related information from those credit unions that have stopped offering international remittance services due to concerns with the rule. Once complete the results will be communicated to CFPB, NCUA, and other agencies. Credit unions that have discontinued international remittance services are being encouraged to contact CUNA via email.

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In This Issue
Wednesday Edition
Final results from Tuesday's AL-01 special runoff election
CUNA's Hampel presents CU, member housing reform views
Nominations for NCUA consulting now open
CUNA requests feedback on CFPB remittance transfer rollout
LSCU & Affiliates Media
 
CUNA Inside Exchange with NCUA Chairman Debbie Matz

The most recent edition of CUNA Inside Exchange features the first of a two-part series with NCUA Chairman Debbie Matz. She speaks openly about the issues facing credit unions. 


2013 Leadership Development Conference Mobile App for iPhone

Click the icon above to download the LDC Mobile App to your iPhone or iPad. *Be sure to download to your phone or tablet, not your computer.


2013 Leadership Development Conference Mobile App for Android

Click the icon above to download the LDC Mobile App to your Android phone. *Be sure to download to your phone or tablet, not your computer.

Upcoming League Events
Nov. 5-8 Leadership Development Conference
Nov. 5 Civil Money Penalties/Examiners Findings
Nov. 6 Call Reports-What to Look For & Why
Nov. 7 POAs, Businesses, Trusts & More
Nov. 12 IRA Beneficiary Designations
Nov. 13 Mobile Pymts/Impact/Choice/What Next
Nov. 14 Indirect Lending, Risks, Rewards, Mistakes
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