Sustainable finance has become the fastest, growing concern for credit unions and its potential regulation. Sustainable finance regulations would be more favorable to financial inclusion, made possible by Panya Monford and Andy Price of World [...]
The NCUA Board Thursday approved by a 2-1 vote a proposed rule requiring the board of directors of a federal credit union (FCU) to establish a process for succession planning. In addition, the NCUA staff [...]
The 2022 tax filing season is in full swing at the IRS. And although doing one's taxes is a near-universally dreaded task, there is a glimmer of good news: It doesn't have to be expensive. [...]
In 2022, financial institutions will be especially vulnerable to losing small business banking clients to newer and sleeker fintech providers. This bold declaration came from The Financial Brand in early January and kicked off the [...]
At the beginning of the month, the National Credit Union Administration’s (NCUA) risk-based capital requirements and complex credit union leverage ratio (CCULR) went into effect. Today’s blog will discuss the effects of those [...]
Effective March 19, 2021, Nacha’s account validation rule requires ACH originators of WEB entries to use a commercially reasonable fraud detection system to verify new consumer account information. WEB debit entries, by definition, are [...]
We’re not going to sugarcoat it. Diving into the world of data analytics is a big, huge step, but if you want your credit union to not only survive, but thrive, it’s a [...]
You may think you know yourself, until one day you realize you don’t. In life, new obstacles, opportunities, and influences taint our judgments of the outside world. As we get older, we start to [...]
Welcome to the CUInsight Minute, sixty seconds from our Director of Learning & Client Support Linda Lafortune with our favorite reads from the week. Mentioned: How to increase member financial security by KRIS NELSON, SECURIAN [...]
Consumers are less happy with their financial institution than they were last year. From 2021 to 2020, the number of members happy with their primary bank dropped from 86% to 78% while at least 12% [...]
The Federal Financial Institutions Examination Council (FFIEC) recently released one new section and updates to three sections of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual: The updates affect the following sections: Introduction [...]
Running a credit union is expensive. Buildings, office equipment, IT investments, and of course, payroll. But a lack of trust is by far your biggest expense. When employees do not trust the leaders, turnover is [...]
The largest credit union by asset size and in membership currently sits at $111,986,000,000 and 10.8 million respectively. This behemoth of a shop is uber-deserving of kudos, with an endless supply [...]
NCUA issued a proposed rule on succession planning and heard briefings on supervisory priorities and the Central Liquidity Facility (CLF) Thursday. The board also finalized a rule on statutory inflation of civil money penalties. The [...]
Fannie Mae wrote to the Federal Emergency Management Agency (FEMA) earlier this month to urge the agency to set federal standards for how home sellers disclose flood risks to potential buyers. Fannie Mae noted the [...]
