Links in “Credit Unions”

The CFPB is inviting comments regarding its data collection practices, what kind of data should be collected, and the burden imposed through information collection. Now is the time to tell them how you feel. [9/9/14]

Here are four nontraditional retail banking providers you should keep your eye on. Whether you consider them competitors or partners, they’re certainly shaking things up. [9/8/14]

In a Friday column in the American Banker, interim CUNA President/CEO Bill Hampel pointed out that the real reason for credit unions’ success is their cooperative structure and the trust that they have earned from their members. Hampel was refuting the ABA chief’s claim that credit unions have been successful due to their tax exemption. [9/8/14]

To those of us on the outside the reason for the liquidation of Louden Depot Community Credit Union in Fairfield, Iowa, is a mystery.  The credit union’s June 30^th Call Report shows a strong net worth ratio of 12.47%, low delinquency and charge offs ratios, and 1.45% ROA. [9/8/14]

Five takeaways from the recent Risk Management Summit. [9/8/14]

ABA is running a radio ad this week calling on Congress to end credit union tax exemption. [9/8/14]

One of the root causes of problems in a financial institution’s Bank Secrecy Act and anti-money laundering programs is a weak culture of compliance. In this video, AffirmX’s Senior Analyst Coppelia Padgett explains what a compliance culture is and what to do if it is lacking at your financial institution, especially in light of FinCEN's recent advisory. [9/5/14]

NAFCU CEO Dan Berger has asked the Federal Home Loan Bank Board to give credit unions another 60 days to submit comments on the FHLB’s proposed changes to its membership eligibility requirements. Berger said that the proposal is complex and credit unions need more time to analyze the impact of the proposed changes. [9/5/14]

CUNA Chairman Dennis Pierce has announced the appointment of a 12-member task force to look at the CUNA structure and governing options for its credit union members. Recommendations from the task force are expected to be presented to the CUNA board next spring. [9/5/14]

The possible breach at Home Depot may be bigger than the Target breach. Here's what some credit unions are doing to proactively inform members about what the possible breach may mean. [9/5/14]