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lNovember 16, 2009

Legislation fixes troubled aspects of Credit CARD Act
President Obama signed the CARD Act Technical Corrections Act (H.R. 3606) into law, providing several fixes to the Credit CARD Act that became law this past spring. The Credit CARD Act originally implied that a 21-day late notice requirement applied to all open-end credit. The corrections bill states clearly that the late-notice provision applies only to credit cards. FULL STORY

Opt-in required for overdraft starting July 2010
The Federal Reserve Board’s final rules on overdraft protection, which will take effect July 2010, prohibit financial institutions (including credit unions) from charging consumers fees for paying overdrafts on automated teller machine (ATM) and one-time debit card transactions unless a consumer consents or opts into the overdraft service for those types of transactions. FULL STORY

Two important developments emerge regarding UBIT
Credit unions saw important developments last week in regards to insurance and investment products that are subject to the unrelated business income tax (UBIT). FULL STORY

The REAL Focus: Several free tools available to help CUs with REAL Solutions®
In the latest REAL Focus column, Jill Weber, The League's Director of Member Solutions, shares tools that credit unions can use to advance their REAL Solutions® offerings and also provides updates on the REAL Progress & Pathways to Prosperity (RP3) project.

New Meet the Board profiles to help CUs learn more about the board members that represent them
The first features Kevin Hauser, President of Westby Co-op Credit Union, League Board Chair and respresentative for Region 1. FULL STORY

Make sure you're not advertising non-compliance with errors in ads
Whether it's a newspaper ad, an Internet webpage, a flyer, electronic message boards or a telephone hold message, all advertisements are regulated. That means that these mediums should be run by your compliance officer for review before they’re in the public eye. FULL STORY

Regulatory changes keep coming
Regulatory changes continue to be issued, something that, according to experts, will continue for the foreseeable future. But now some of these new changes are reversing those issued earlier this year. FULL STORY

Over a thousand Activists now signed on to "1 with The League"
The "1 with The League" public relations and advocacy campaign continues to grow with over 1,000 Activists committed to sharing the credit union story. FULL STORY

Credit Union News

Take advantage of The League's State GAC Registration deals!
Credit unions' prime opportunity to hear from key legislative and political leaders is just around the corner. Make sure you don’t miss your chance to enhance your advocacy skills and share the credit union message with lawmakers during The League’s 2010 State GAC, Jan. 19-20 in Madison. FULL STORY

Start your non-interest income engine today!
Give your members the protection they need, while also meeting your need for greater non-interest income and member loyalty with MemberConnect.

More than a million Americans have been victim of fake check scams. Protect your credit union and your members by stopping fake checks at the teller line with TrueChecks. FULL STORY

Endorsed Vendors

Save the Date for Filene's  Research & Innovation Update on Dec. 4
Mark your calendar for Filene Research Institute's Think.Do 2010 conference on Dec. 4 at the CUNA Campus in Madison. The conference will provide an update on innovations and provide a forum for credit unions to share ideas. Watch for more details as they become available.

Register for NCUA's FREE Member Business Lending webinar Nov. 18
National Credit Union Administration Board Member Gigi Hyland will host a free "Member Business Lending: Regulators' Perspective" webinar at Noon on Nov. 18. The webinar will provide guidance, best practices and insight into examination of member business lending. FULL STORY

Holiday loan campaign can help save members money this holiday season
Show your members how they can save money this holiday season with a holiday loan campaign from The League Marketing Agency. By promoting the low rates of a credit card or closed-end holiday loan, you can let your members know that they can turn to their credit union if they need a little extra help. Contact The League Marketing Agency for more information.

Better understand foreclosure policy at Chicago conference Dec. 9-10
Explore the evolution, current impact and likely outcomes of the foreclosure crisis on homeowners, lenders, housing counseling agencies, secondary market, regulators and all levels of government during the "Mortgage Foreclosure Policy: Past, Present and Future For Home Owners, Renters and Communities Conference," Dec. 9-10 at the Federal Reserve Bank of Chicago. FULL STORY

Part two of three-part series on WI CUs’ successful card programs
The second article in a three-part series on the success Wisconsin credit unions have achieved with credit card programs was recently published on page two of the Card Services for Credit Unions News publication. The series was written by Tara Koplien, The League’s Product and Service Manager.

Plan now to sponsor a teacher or send a staff member to the 2010 Institute
It’s never too early to plan to sponsor a teacher or send a member of your staff to the 2010 National Institute of Financial Economic Literacy, week-long workshops that teach strategies to educate young people about the basics of personal finance. Each workshop, conveniently located close to home at Edgewood College in Madison, is a bargain at only $225 for each full week. FULL STORY

Late-breaking headlines

Questions or comments? Please contact Melissa Polley at (800) 242-0833, Ext. 6045.

Email change? Please contact Judy Phillips at (800) 242-0833, Ext. 6020

League News is a publication of The Wisconsin Credit Union League © 2009

Wisconsin Credit Union League
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Phone: (262) 549-0200 or (800) 242-0833

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