Current Issues in Credit Unions Episode #58

Sarah Snell Cooke, editor of Credit Union Times joins Brian, Hal, Katherine & Rob for this month’s show!  Here are the topics: –What it takes to cover CU news in 2011. –CFPB update –Making Remote Capture More Appealing to Credit Unions –New Federal Garnishment Rules –Mortgage Lending Update –Big K Roundup. Sound editing by Victor…

Title Q and A in Ohio.

By Arthur Smialek Our credit union member is refinancing his home, and his daughter claims to have power of attorney. Should I be concerned? Yes. You should be concerned at the time of the first contact. There are many types of documents giving individuals powers of attorney. Powers can be limited, unlimited, for healthcare, specific, general,…

New Garnishment Rules.

By John B.C. Porter Effective May 1, 2011, financial institutions will have to do much more by way of analysis when in receipt of garnishment orders than simply forwarding all but $425 to the court. The Department of the Treasury recently released its interim final rule to implement statutory restrictions on the garnishment of Federal…

More On Underwriting.

By Shari Storm Editor’s note:  I’m giving this post a plutonium disclaimer.  We are not advocating doing underwriting using the studies that Shari describes below.  She is calling these studies to our attention in the underwriting context being fully aware that to use them would probably be illegal.  It’s just a thought provoking blog post…

The Consumer Financial Protection Act: The Creation of the Consumer Financial Protection Bureau and the Impact on Debit Card Interchange Fees

By David Brown, Esq. On July 21, 2010, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act).  This article discusses two of the most notable aspects of the Dodd-Frank Act: The creation of the Consumer Financial Protection Bureau (CFPB) and The Durbin Amendment, a short but controversial…