Total consumer credit rose 14 percent, at a seasonally adjusted, annualized rate, in March and is up 7.5 percent compared to a year ago. Revolving credit - primarily credit cards - rose 35.3 [...]
The Consumer Financial Protection Bureau has published revised examination guidance and a compliance bulletin that expand the scope of unfair, deceptive or abusive acts or practices. This expansion will result in greater scrutiny and increased [...]
Consumers’ definition of trust in financial institutions is shifting from a focus on privacy, data security, and having their best interests at heart to convenience and ease of use, according to Carrie Stapp, vice president [...]
Emboldened and sophisticated fraudsters are driving an increase in card fraud losses. Financial institutions are taking more aggressive, costly measures to combat it, but not all strategies are equally effective. However, new approaches that blend [...]
The Consumer Financial Protection Bureau (CFPB) intends to target digital redlining and algorithmic bias in its fair lending supervision and enforcement efforts, the agency said, in its annual Fair Lending Report to Congress, released on [...]
In the recent Supreme Court case of Hughes vs. Northwestern University, current and former plan participants in two of the university’s retirement plans claimed that the academic institution was in breach of its fiduciary [...]
Your website says a lot about you. Everything from color themes to formatting tells your members or customers about your brand. And if your website says the wrong things, you’ll find yourself losing loans [...]
What does the word “leadership” mean to you? If you’re among the next generation of leaders, you may be motivated more by roles that give you a sense of identity and purpose rather than [...]
The financial industry has been anticipating the death of cash for years, pointing to the adoption of smartphones and digital payments as catalysts. But while cash isn’t quiet dead, The Global Payments Report from [...]
Let’s face it – business as we know has changed. If the last two years have taught us nothing else they have taught us that our lives, our credit unions, our health, our members – things [...]
The global covid-19 pandemic has caused major upheavals in the American business, economic and political sectors perhaps most importantly the workforce. Resent data suggests the pandemic-era labor trend aka the Great Resignation is continuing. Business [...]
Credit unions’ unique characteristics produce significant pro-consumer benefits, according to CUNA’s 2022 National Voters Poll. Conducted in January, the poll shows credit union characteristics unambiguously translate to greater financial resilience and higher levels of [...]
The House returns this week with several key hearings lined up, including several budget request hearings. Looking forward, the House Financial Services Committee’s May schedule includes a markup where the committee will potentially discuss [...]
Economists and investment strategists are said to suffer from a malady known as “physics envy.” The physical universe is governed by laws that create certainty about the outcome of an action. If a ball is [...]
Mary Ann Pusateri, CEO at Partnership Financial Credit Union in Morton Grove, Ill., is Credit Union Magazine’s 2022 Credit Union Hero of the Year, sponsored by Symitar. “Mary Ann Pusateri's career exemplifies how credit [...]
