Bowater ECU Awards $1,000 Pay-It-Forward Prize to Member

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Bowater Employees Credit Union member Cynthia Humes, has won $1,000 from Bowater Credit Union to her favorite non-profit, Family Cornerstones. Bowater Credit Union has asked its members to nominate their favorite non-profit helping people in the counties eligible for credit union membership: Bradley, McMinn, Meigs, Monroe, and Polk.  Family Cornerstones …

Mortgage Servicing Rule has October 19, 2017, Effective Date

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The Consumer Financial Protection Bureau (CFPB) published its final mortgage servicing rule in the Federal Register, providing an effective date. Most of the rule will be effective Oct. 19, 2017–1 year from its publication–while others, including the successors-in-interest requirements, will be effective April 19, 2018. CUNA remains concerned about increased …

Ascend Touts 65 Years of Service ahead of International Credit Union Day

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This Thursday is a big day for credit unions. Governor Bill Haslam recently proclaimed October 20 as Credit Union Day in Tennessee, and that date is also International Credit Union Day. For Middle Tennessee’s largest credit union, this year’s observance of the credit union difference is particularly meaningful. “We’re celebrating …

CFPB Allows Advance Collection of HMDA Data Before January 2018

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The Consumer Financial Protection Bureau (CFPB) announced that it will allow advance collection of 2017 Home Mortgage Disclosure Act (HMDA) disaggregated ethnic and racial data categories, though such collection is not mandatory until January 1, 2018, under the new HMDA regulations. The notice comes as part of other information released …