CUNA-backed bill would allow CU input into ‘rural’ definition

first_img 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Reps. Andy Barr (R-Ky.) and Ruben Hinojosa (D-Texas) have reintroduced the Helping Expand Lending Practices in Rural Communities Act, a CUNA-supported bill that would grant credit unions and other lenders greater input into rural-area designations.“Having an area designated as ‘rural’ can affect  the types of products credit unions can offer members in that area, and CUNA supports any opportunity for credit unions to provide input to the process,” said CUNA Chief Advocacy Officer Ryan Donovan.For instance, credit unions operating in “rural” areas may be exempt for some regulatory burdens, such as an escrow requirements under the Truth in Lending Act that requires certain lenders to create an escrow account for at least five years for higher-priced mortgage loans. They may also be exempt from standards under the Ability-to-Repay/Qualified Mortgage (QM) rules that disqualify mortgage loans with balloon payments from meeting the QM standard.Being exempt from such requirements, CUNA maintains, can beneficially affect the types of products a credit union can offer their members in what can be underserved areas. continue reading »last_img read more

Samuels elated with vital Scorpions win

first_imgBRIDGETOWN, Barbados, (CMC): Jamaica Scorpions head coach Robert Samuels believes his side has gained valuable momentum with their ‘vital’ win over tournament favourites Barbados Pride here Thursday night. Previously unbeaten in six outings, Pride slumped to a 74-run defeat in the day and night contest at Kensington Oval, as Scorpions in turn won their fourth straight to build up a head of steam ahead of next week’s Regional Super50 semi-finals in Antigua. “It (the win) was very vital. You do not want to lose twice to any team in the semi-finals,” said the former Test batsman. “Barbados beat us in the first game. I thought we should have won that game, scoring 191. They got there with just one wicket [left]. Today, we scored 250, and I thought it was enough. “I must give Barbados credit. They bowled very well in the middle overs [especially] the two spinners (Ashley Nurse and Jomel Warrican) … and they pulled us back. At one stage it looked as if we would have scored 400, but Nurse bowled extremely well.” Scorpions started the tournament with a shock defeat to Combined Campuses and Colleges Marooners and lost their second when they narrowly went down to Pride six days later. Since then, Scorpions have hardly missed a step, and Samuels said it had been important to get the early jitters out of the way before the knockout round. “In competitions like this you will lose one and you do not want to lose one in the semi-finals or the final so to get that one out of the way [was important],” Samuels pointed out. “We took CCC for granted … fortunately or unfortunately, we played CCC at their home ground which they knew better than us and we took it for granted, became complacent and we lost.” Since then, Scorpions stepped up their game, with their batsmen especially finding their touch. In their last four outings, they have cracked 250 three times and got 204 in the other game. Scorpions, who lie second in the Group B standings behind leaders Pride, face ICC Americas in their final game at Windward Cricket Club today.last_img read more