Links in “Credit Unions”
- 1 in 2 Cards to be Chip-Enabled by End of 2015
By the end of 2015, it is expected that there will be more than 575 million EMV chip cards in the U.S., or one in two of U.S. payment cards. [8/14/14]
- When a Loan Mod Becomes a Refi
A loan modification requires minimal new disclosures, whereas a loan refinancing requires the whole ball of disclosure wax. As such, it's imperative to know when modifying the terms of an existing loan results in a modification or a refinancing. Here's some guidance on the matter. [8/14/14]
- Congressional Concern Likely to Impact Final RBC Rule
Due to the significant amount of concern expressed by Congress on NCUAâs proposed risk-based capital rule, NCUA will want to tread carefully in crafting the final rule, according to Carrie Hunt, General Counsel for NAFCU. If the final rule does not satisfactorily address the issues raised by members of the House and Senate, the end result could be legislation that could affect the degree of flexibility the agency has in the future. [8/14/14]
- Medical Marijuana Use Raises Issues for Employers
As if employment law isnât confusing enough, now employers may have to address issues involving medical marijuana use by their employees. The Americans With Disabilities Act (ADA) does not require employers to accommodate medical marijuana use. In addition, employers with federal contracts are required to maintain a drug-free workplace. [8/14/14]
- 34% of Smaller Institutions Looking to Change AML Providers
A survey of small- to mid-sized financial institutions finds 26% very likely and 8% somewhat likely to change AML providers in the next 2-3 years. [8/13/14]
- Attention: State-Chartered Credit Unions
NCUA's fixed-asset proposal could apply to you! Find out here. [8/13/14]
- Want More Members? Focus on Checking Account Acquisition
Marketing group Advisors Plus gives some interesting advice on how to grow your membership: focus on checking account acquisition. They've found that this simple method results in a growth in new members, deeper member relationships, and is the "lynchpin" for cross-selling programs. [8/13/14]
- Auto Loan Fraud Fools 5 Credit Unions
Over the course of two years Duane Akuffo created 17 false auto loan applications, which led to a plunder of more than $357,000. [8/13/14]
- Watchdog Challenges CU’s $3 Monthly Membership Fee
ABA's credit union watchdog is challenging the legality of Arizona FCU's $3 monthly membership fee, citing a 1993 NCUA legal opinion that no annual membership fees may be charged. [8/13/14]
- Top 5 ACH Trouble Spots
For many people, August signals such pleasantries as football season and children returning to school. To the credit unionâs operations officer, those changes are just as likely to signal the impending deadline for the annual ACH audit. Senior Analyst Coppelia Padgett introduces some common trouble spots she's seen that may help to keep in mind, whether they conduct their own ACH audits or hire it out. [8/12/14]
