Comments on: Take down by the FDIC http://cuinnovators.com/blog/take-by-the-fdic/ At CU Innovators, we help credit unions, CUSO's, and service providers create meaningful products and services for their members and clients. Mon, 14 Mar 2011 17:53:41 +0000 hourly 1 By: Compare CD Rates http://cuinnovators.com/blog/take-by-the-fdic/comment-page-1/#comment-568 Compare CD Rates Thu, 30 Oct 2008 20:40:05 +0000 http://blog.cuemployee.com/?p=290#comment-568 Here is a better link about the case. The other link has limited access. http://www.allbusiness.com/legal/legal-services-litigation/11488091-1.html cd :O) Here is a better link about the case. The other link has limited access.

http://www.allbusiness.com/legal/legal-services-litigation/11488091-1.html

cd :O)

]]> By: Compare CD Rates http://cuinnovators.com/blog/take-by-the-fdic/comment-page-1/#comment-567 Compare CD Rates Thu, 30 Oct 2008 15:10:46 +0000 http://blog.cuemployee.com/?p=290#comment-567 TDECU should have sought some public support. We've had some problems with the FDIC not wanting to review a pending court case regarding a bank not returning funds that were wired into them. The bank is claiming an employee basically stole the funds and it isn't their responsibility. The FDIC claims it is a contractual issue. But I thought, if you made a deposit in a bank, your funds were automatically protected. However, they are only protected against bank failure. They aren't protected from theft, fraud, or fire. Here is the link to the case if you are interested. http://dockets.justia.com/docket/court-nhdce/case_no-1:2008cv00261/case_id-32470/ Anyway, sorry for going off topic. The fact is credit unions are far less likely to be in trouble from this current mess. They shouldn't have to back down from making that fact known. Chris Duncan Jumbo CD Investments, Inc. TDECU should have sought some public support. We’ve had some problems with the FDIC not wanting to review a pending court case regarding a bank not returning funds that were wired into them. The bank is claiming an employee basically stole the funds and it isn’t their responsibility. The FDIC claims it is a contractual issue. But I thought, if you made a deposit in a bank, your funds were automatically protected.

However, they are only protected against bank failure. They aren’t protected from theft, fraud, or fire.

Here is the link to the case if you are interested.

http://dockets.justia.com/docket/court-nhdce/case_no-1:2008cv00261/case_id-32470/

Anyway, sorry for going off topic. The fact is credit unions are far less likely to be in trouble from this current mess. They shouldn’t have to back down from making that fact known.

Chris Duncan
Jumbo CD Investments, Inc.

]]> By: Mike Templeton http://cuinnovators.com/blog/take-by-the-fdic/comment-page-1/#comment-566 Mike Templeton Fri, 03 Oct 2008 19:26:23 +0000 http://blog.cuemployee.com/?p=290#comment-566 This is a topic that came up during the marketing portion of the Idea Xchange at Partnership Symposium. I can't see the original page, but the consensus among that group was that although they may have gone a bit farther than they should have, there needed to be more support and questioning from CUs before TDECU shut down the page. There were lots of people with fairly strong opinions on this and I wonder if the discussion could be carried on over here? This is a topic that came up during the marketing portion of the Idea Xchange at Partnership Symposium. I can’t see the original page, but the consensus among that group was that although they may have gone a bit farther than they should have, there needed to be more support and questioning from CUs before TDECU shut down the page.

There were lots of people with fairly strong opinions on this and I wonder if the discussion could be carried on over here?

]]> By: anonymous http://cuinnovators.com/blog/take-by-the-fdic/comment-page-1/#comment-565 anonymous Fri, 26 Sep 2008 17:22:45 +0000 http://blog.cuemployee.com/?p=290#comment-565 The CU's observations and comments pale in comparison to Senator McCain's comments about impending disaster in the industry and the soon to be depression that will arrive if there is no federal bailout of the FSI. The comments also pale next to Bush's speech the other night claiming the industry is collapsing before our eyes. How can one little CU be such a threat and the two currentl leaders of the Republican party be no threat at all? The CU’s observations and comments pale in comparison to Senator McCain’s comments about impending disaster in the industry and the soon to be depression that will arrive if there is no federal bailout of the FSI. The comments also pale next to Bush’s speech the other night claiming the industry is collapsing before our eyes. How can one little CU be such a threat and the two currentl leaders of the Republican party be no threat at all?

]]> By: The Compliance Guy http://cuinnovators.com/blog/take-by-the-fdic/comment-page-1/#comment-564 The Compliance Guy Wed, 24 Sep 2008 16:22:48 +0000 http://blog.cuemployee.com/?p=290#comment-564 The FDIC has long taken the stance that they will object to any claim that the NCUSIF or credit unions in general are more sound than banks. Take a look at this FDIC opinion letter from 2000. It addresses a different issue, but it touches upon the comparison topic during its discussion. http://www.fdic.gov/regulations/laws/rules/4000-10110.html The FDIC has long taken the stance that they will object to any claim that the NCUSIF or credit unions in general are more sound than banks. Take a look at this FDIC opinion letter from 2000. It addresses a different issue, but it touches upon the comparison topic during its discussion.

http://www.fdic.gov/regulations/laws/rules/4000-10110.html

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