Judge dismisses NCUA suit against US Bank, BoA as RMBS trustees

first_imgA U.S. District judge Monday dismissed three lawsuits–including one by the National Credit Union Administration–brought against U.S. Bank National Association and Bank of America, National Association regarding their duties as trustees of residential mortgage-backed securities (RMBS).NCUA filed the lawsuit in December alleging the two banks failed to fulfill their duties as trustees for 99 of the trusts. Despite knowing about defects in the mortgage loans, the complaint said, U.S. Bank and Bank of America failed to provide required notices to certificate holders and other parties and failed to take timely action to force the repurchase, substitution or cure of defective mortgage loans or otherwise preserve trust remedies (News Now Dec. 18).U.S. District Judge Katherine Forrest ruled the NCUA lacked standing to sue U.S. Bank and Bank of America over 74 of the trusts that the agency moved into new, independent trusts (Bloomberg May 19).Nothing in federal securities law “authorizes NCUA (or the [corporate credit union] for which it acts as liquidating agent) to sue on behalf of separate statutory trusts,” Forrest ruled, according to court documents. continue reading » 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Leaders Credit Union invested in video. Learn what happened next.

first_img continue reading » When Leigh Anne Bentley joined the marketing team at Leaders Credit Union($435.7, Jackson, TN) three years ago, she joined a department that was quickly strengthening its agency credentials.Before joining Leaders, Bentley and Leaders marketing specialist Janet Wylie had each logged time at local ad agencies bringing their talent and resources with them. Wylie brought with her proficiency in graphic design, photography, and video production. The duo used their experience and expertise to bring creative production — including all video production — in-house at the Volunteer State cooperative.Today, the credit union’s own marketing department shoots, edits, and otherwise produces all commercials, branding videos, and product tutorials. This internal control has allowed Leaders to better manage its branding standards as well as generate thousands of impressions, comments, and shares in a more economical fashion than outsourcing permits.In this Q&A, Bentley, the credit union’s chief marketing officer, discusses where video fits into Leaders’ overall marketing plan, the cost and resources required to run in-house production, speed to market, best practices, and more. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more