Links in “Credit Unions”
- CUs and Banks Take Different Approaches to Subprime Auto Loans
The market in subprime auto loans is booming. Banks appear to be heading down the same path as they did with subprime mortgages: high rates coupled with insufficient consideration of the borrowerâs ability to repay. Not so with credit unions. [7/28/14]
- Western Europe Battling GOZeuS and Cryptolocker Malware
GOZeuS and Cryptolocker malware enable cyber criminals to access bank login credentials, which they have used to steal millions over the last few weeks. Banks in the U.S. are not immune. [7/28/14]
- (NEW VIDEO) Risk Watch 22: NACHAâs New Guidelines for Higher-Risk Originators
Recently, NACHA (The Electronic Payments Association that was formerly called the National Automated Clearing House Association) released a new document called the Sound Business Practices for Evaluating Customer Risk. AffirmXâs Senior Analyst Coppelia Padgett gives us an overview of this important new guidance.
- NCUA Approves 123 Mergers in First Half of 2014
The 123 mergers approved in the first half of 2014 reflects a decline in mergers over the same period last year when 114 mergers were approved. All but three of the mergers involved credit unions with less than $50 million in assets, demonstrating the continuing challenges faced by small credit unions. [7/25/14]
- CUNA Launches Online Tool That Gives a Voice to CU Regulatory Concerns
An interactive online resource developed by the California and Nevada Leagues is being taken national by CUNA allows CUNA-affiliated credit unions to write and immediately submit comment letters directly to NCUA and other regulatory agencies as well as having access to comment letters submitted by other credit unions and their leagues. PowerComment users will also be able to view the proposed rules and communicate with and pose questions to other credit unions and leagues regarding proposed rules. [7/25/14]
- Itâs the Ones Nearest You That You Have to Watch the Most Closely!
Or so says NCUA in a new video on the NCUA YouTube channel that it has released entitled the first three episodes of a 7-part series entitled âDeterring, Preventing, and Detecting Employee Dishonesty.â The series is intended to help credit union managers and volunteers detect and prevent internal fraud, which has cost the share insurance fund over $311 million over the past three years. [7/25/14]
- Is the Minimum Capital Ratio Requirement Enough?
NCUA board member Rick Metsger says that prudent capital management should include a capital buffer above the minimum requirement for being well-capitalized. [7/25/14]
- New York Moving Toward BitLicense
The state is proposing licensing dealers of virtual currency, including strict anti-money-laundering safeguards and consumer protections. [7/25/14]
- Four Win Innovation Awards at NAFCU Annual Conference
Take a look at this yearâs Innovation Awards winners that offer products that range from a collateral insurance tracking system to an indirect insurance product delivery system, and executive compensation tools to board performance assessment tools. The annual awards recognize outstanding innovations designed help credit unions be more successful. [7/24/14]
- Credit Union to Bank Conversion Is News to the Regulators
Monterey Credit Union recently announced plans to convert to a mutual savings banks and has sent ballots to its 20,000 members has apparently not informed regulators on either the credit union side of the bank side about its intentions and doesnât appear to have submitted a new charter application. This California credit union (which is privately insured) has not commented on this discovery. [7/24/14]
