Links in “Credit Unions”

NAFCU supports NACHA’s proposed rule changes that will eliminate the 15-day notification period required for RDFI’s to re-credit consumer accounts for unauthorized debt entries and will require consumer disclosures for entities providing cards to consumers to initiate ACH point of sale entries. [10/3/14]

There is still time to register for NCUA’s November 19^th webinar that will address four key ways in which credit unions can grow their loan portfolios in a safe and sound manner. A combination of NCUA staff and credit union personnel will host the webinar that is scheduled for 90 minutes beginning at 2:00 pm EST. [10/31/14]

The Home Depot data breach has cost credit unions $63 million, which is nearly twice as much as the Target breach. Credit unions report that at least one quarter of that cost is for card replacement. [10/31/14]

Several officials at NCUA have commented that the agency is considering removing the consideration of interest rate risk from the risk weights assigned under the proposed risk-based capital rule and issuing a separate IRR rule. This response is based on the deluge of adverse comments from the industry regarding NCUA’s focus on IRR in the RBC proposed rule. [10/31/14]

Part I of this financial crime story tells the tale of how a cautious CEO and her IT staff uncovered a series of linked fraudulent accounts. To be continued... [10/30/14]

CUNA "urges the CFPB to use a surgeon's precision in meeting Dodd-Frank Act requirements to change HMDA—and go no further than the act mandates," because they fear that the new HMDA rules are simply added weight onto the already burdened shoulders of credit union compliance staff. [10/30/14]

A study release by CUNA and Coopera showed that credit unions with Hispanic outreach programs experienced a 3.51% increase in their lending program after three years. [10/30/14]

It's well-known that social media use is only becoming more popular and is thus a great avenue for credit unions to advertise. However, many institutions have a hard time balancing the benefits with the risks and regulatory guidance. [10/30/14]

How should you walk the line between protecting your member’s information and satisfying information requests by law enforcement and the courts? Understanding the information sharing requirements and limitations under the SAR safe harbor provisions and the Right to Financial Privacy Act can help. [10/29/14]

According to the National Foundation for Credit Counseling most consumers have a closetful of financial fears. The top fear is either not having enough money to meet everyday expenses or not having saved enough money for retirement. [10/29/14]