Links in “Credit Unions”
- Risk Watch 20: Three Common E-SIGN Mistakes
Because the E-SIGN legislature itself is only three pages long, it is relatively easy to follow. However, donât let its brevity fool youâit still trips up financial institutions even a decade and a half after its implementation. AffirmX Analyst Dustin Stanley delineates three common mistakes with E-SIGN compliance he sees from his reviews for institutions across the country and how to avoid them. [7/11/14]
- Security Myths
Although cybersecurity is a relatively new topic, there is already a healthy mythology about how to do it properly. Unisys President Bob Olson dispels 5 myths about bank IT security. [7/11/14]
- Bill Would Exclude Veteransâ Loans from MBL Cap
A bill introduced by House member Jeff Miller, Chairman of the House Veterans Affairs Committee, would exclude business loans to veterans from the statutory cap on member business loans. [7/11/14]
- Look Out! HijackRAT and Svpeng Are on the Loose
The speed with which hackers can create new strains of viruses is shocking. We already have some new attackers like HijackRAT and Svpeng that are causing mischief for institutions of all shapes and sizes. This article delineates five ways financial institutions can defend themselves against this mobile malware. [7/10/14]
- “100 Million Memberships” on the Rise
The Credit Union National Association's new campaign called "100 Million Memberships" is achieving success as selfies and biographies of real credit union members fill their website. Find the membership map here. [7/10/14]
- Biometrics at Your Credit Union?
Yes! Service 1st FCU is among the first credit unions to take the plunge and now offers fingerprint scanning to its members. CIO Jay Reed says, "Biometrics was the next obvious step in privacy and security â especially in a busy, open lobby." Read this article to find out more about what it's like to use this new-age technology in your institution. [7/10/14]
- Deliquency Down, Spending Up
Despite an increase in consumer spending, bank card delinquencies are at 2.44% of all accounts compared to the 15-year average of 3.82%. As James Chessen, ABA's chief economist, explains, "More and more consumers are using their credit cards as a payment vehicle, paying off or paying down their balances each month." [7/10/14]
- Complying with NCUA §701.19
Need to offer employee benefits but not sure how? Here's an overview of institutional asset management for all the CFOs out there. [7/10/14]
- Confident Consumers Spend and Borrow
Consumer borrowing is on the rise after a not-so-hot first quarter. The $19.6 billion increase reflects a rebounding economy and greater consumer confidence. [7/9/14]
- Five Common Violations of the SAFE Act and How to Avoid Them
In addition to being among the regulations whose framers worked extra hard to come up with a pronounceable and relevant acronym (along with E-SIGN and the USA PATRIOT Act), the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act, is also among regulations with violations that can be readily avoided. AffirmX's Senior Analyst Coppelia Padgett has compiled a list of the five most common violations of the SAFE Act she's observed from her audits for financial institutions across the country. [7/9/14]
