It’s Not Fair!

By Shari Storm If you have kids, have ever babysat kids, or were ever a kid, you know how acute a child’s sense of fairness is and how fiercely they will fight to keep things fair. As adults, we like to think that we’ve outgrown those tendencies – that we’ve finally come to terms with…

Current Issues in Credit Unions Episode 65.

The glamor of last month’s live show is over and we are back to the studio.  This month, Guy, Hal, Katherine & Rob discuss the following: -More on board compensation. –Results of bank transfer day. –Should credit unions handle accounts for municipalities? –Joint Guidance on Supervision & Examination Authority –FFIEC Guidance on Authentication Big K…

A meta moment.

by:  Rob Happy Thanksgiving, readers!  Around WWR, the Wednesday before Thanksgiving is always reminiscent of the hectic time Steve Martin goes through in Planes, Trains & Automobiles.  Clients are trying to get work to us before the holiday and we are trying to turn it around to create time during the holiday.  Thus today is guaranteed to…

Michigan Supreme Court Reverses MERS Case

By Stuart A. Best, Esq. In April 2011, a Michigan case was published that initially caused a shock wave throughout the foreclosure and eviction world. The case arose from the consolidated cases of Residential Funding Co., LLC v. Saurman, and Bank of New York Trust Co. v. Messner (“Residential Funding”), and involved foreclosures brought in…

Save to Win Programs

By David A. Wolfe, Esq. In January 2009, eight Michigan credit unions pioneered a sweepstakes savings program to increase the savings of people who typically do not save through traditional programs, particularly low income members, and develop the habit of setting aside money on a regular basis.  Instead of traditional payment of interest, this unique…

NCUA Proposed CUSO Regulation and Industry Response

By David S. Brown, Esq. In late July, the National Credit Union Administration (“NCUA”) proposed a rule that would require all Credit Union Service Organizations (“CUSO”) to file financial reports directly with the NCUA and the appropriate state supervisory authority.  The rule would require CUSOs to use GAAP accounting, prepare quarterly financial reports and get…