Reversing a decision made by her predecessor, CFPB Director Kathy Kraninger announced Thursday that she intends to increase the role that advisory boards—including the Credit Union Advisory Council—play in agency decision-making. “I’ve [...]
It's easy to lose sight of what you're working toward in today's culture. Our days are busier than ever – there never seems to be enough hours to accomplish what we want – and technology, while helpful [...]
Credit unions are different. It’s in our mission and our model. And it’s in the way we value the financial success of our members. Our difference makes us better. Better than banks and [...]
Inspiring trends were presented at CUNA's CDFI Roundtable by Chief Economist, Mike Schenk. CDFI certified credit unions had the direct benefit of $874 million in the communities they serve, equalling $250 per family. The credit [...]
Good morning from NAFCU’s spring Regulatory Compliance School! Sometimes a question from a member leaves me digging around in the Federal Register looking for more information. Where a rule or its commentary still leave [...]
HMDA compliance has been looming over credit unions for many years. It was actually enacted by Congress in 1975 but wasn't transferred to the Consumer Financial Protection Bureau until 2011. The financial industry has been [...]
I don’t mean to be morbid but pretend for just a minute that your credit union closed up business today – it’s the end – tomorrow it ceases to exist. What would your community say [...]
I sell to credit unions, every day, and by doing so, I have been involved in many discussions about the perceived needs of credit unions. There are a few regional differences, but one constant is [...]
The Consumer Financial Protection Bureau (CFPB) announced Thursday amendments to its advisory committee charters, which include the Credit Union Advisory Council (CUAC). The CFPB also announced it will begin accepting applications for new council members [...]
NAFCU's Ann Kossachev, commenting on the Federal Housing Finance Agency's (FHFA) proposal on how it plans to evaluate new credit scoring models for use by the government-sponsored enterprises (GSEs), urged the agency to re-propose the [...]
With the rise of digital media, buying advertising for a CU has become more complicated. “Digital marketing has just begun, but it’s evolving rapidly,” notes Brian Ley, founder of machine-learning fintech Alpharank, based in [...]
Although the board may delegate operational functions to management and designated committees, the responsibility for the credit union’s direction remains with the board. These responsibilities include overseeing the development, implementation, and maintenance of the [...]
A former president/CEO of a Kansas credit union will be sentenced in June for embezzling nearly $40,000, according to the U.S. Attorney’s office in Topeka. Connie Marie Kent, 52, Topeka, Kan., [...]
Over the last few years, the FTC has reported a growing number of complaints about scams involving counterfeited checks. Fake checks are used in numerous types of scams, and are therefore quite dangerous to your [...]
Nearly every one of us is a frequent flyer member with an airline of choice. In addition, a majority of us may also have the branded credit card of the airline to maximize our benefits. [...]
