CUNA subcommittees discuss regulatory burdens with CFPB, NCUA

first_img 17SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Two CUNA subcommittees met with Consumer Financial Protection Bureau (CFPB) staff Friday to discuss potential overdraft rules and to remind the agency of the current regulatory burden facing credit unions.The subcommittees also met with National Credit Union Administration staff Thursday, just after the agency voted to finalize its risk-based capital rule.Regarding overdraft protection, the subcommittees discussed credit union overdraft protection, and questioned the CFPB about what it is considering for its overdraft rulemaking. The bureau discussed past and ongoing research about overdraft, and indicated that it is attempting to learn about the practices of small institutions and credit unions through data collected from service providers.“Credit unions offer overdraft products very differently from for-profit institutions. Credit unions offer overdraft services as a convenience and accommodation for their members and members appreciate these services,” said Elizabeth Eurgubian, CUNA’s deputy chief advocacy officer. “We do not support broad new regulation of overdraft services that would limit the flexibility of credit unions to structure their services appropriately, including the regulation of overdraft fees.” continue reading »last_img read more

Iloilo’s Fil-Chinese community breaking barriers, building bridges

first_imgILOILO City – The Filipino-Chinesecommunity here gave way to the recent Dinagyang Festival. A fireworks display caps the show. The Filipino-Chinese community’sChinese New Year celebration, now on its 17th year, has the backing of the citygovernment and Iloilo Festivals Foundation, Inc. This year’s celebration isspearheaded by Hua Siong College of Iloilo. A lantern parade at dusk kicks off the weeklong Chinese New Year celebration in Iloilo City on Jan. 27. This afternoon, Jan. 29, there will be a grand parade downtown followed by a cultural show and fireworks display. IAN PAUL CORDERO/PN The metropolis is home to some 13,000Filipino-Chinese. As usual, everybody is invited to jointhe festivities downtown. It is the community’s way of “breaking barriers andbuilding bridges towards a united Iloilo”, their 2020 Chinese New Yearcelebration theme. According to Dr. Felipe Uygongco,chairperson of the Chinese New Year Task Force, today’s celebration starts witha grand parade at 3:30 p.m. from the Iloilo provincial capitol to the downtownarea. There are an estimated 3,000 paradeparticipants, mostly students from Chinese schools Hua Siong College of Iloilo,Ateneo de Iloilo, Sun Yat Sen, and Iloilo Scholastic Academy. Instead of celebrating the Chinese NewYear on Jan. 25, they rescheduled it to today.center_img A grand cultural show of dances andmusical performances follows the parade at the Filipino-Chinese Friendship Archon Plazoleta Gay, a busy intersection of three major downtown streets JM Basa,Iznart and Ledesma. Uygongco said balladeer Richard Poonis the special guest. Adding color to the Chinese New Yearcelebration is the three-day “Night Market and Food Festival” with concert(Jan. 27 to Jan. 29). On Monday, Jan. 27, celebrationskicked off at SM City Iloilo. There was a lantern parade. Mayor Jerry Treñas initiated theyearly Chinese New Year celebration in 2003 as a way of  recognizing the significant contributions ofthe Filipino-Chinese community to the city’s booming economy. There are a lot of activeFilipino-Chinese organizations in Iloilo. Among these are the Filipino-ChineseChamber of Commerce of Iloilo, Inc., the Federation of Filipino Chinese Chamberof Commerce of Panay, Inc., and the Philippine-Chinese Chamber of Commerce andIndustry, Panay Chapter. “The Chinese New Year Festival is ourway of showcasing our culture to our Filipino brothers. Through the many eventswe want our Filipino brothers to learn and appreciate Chinese culture. We’vealready established a long-time friendship here in the city over the decades.With the annual celebration we seek even closer ties between the Ilonggos andthe Filipino-Chinese community,” said 2020 Chinese New Year Task Force memberIan Eric Pama./PNlast_img read more