Links in “Credit Unions”
- CU Overdraft Fees on the Rise
Washington Post reports that the average overdraft fee at credit unions has risen from $25 to $28, while the average bank overdraft fee has remained steady at $30; increase may be due to a decline in the number of consumer overdrafts. [7/9]
- Overdraft Gap Shrinking Between CUs and Banks
Over the last 3 years, the median fee for CU overdrafts has risen to $28, while it has remained steady at $30 for bank customers. [7/9]
- The Underbanked Going Mainstream
Not all of the 68 million underbanked have low income and poor credit; many are quickly adopting mobile-based financial services. [7/9]
- Both Sides Taking It to Congress in CU Tax Exemption
Congress is hearing from both banking and CU groups on the matter; site tracking best CD rates weighs in on the issue. [7/9]
- Michigan Foreclosure Bill Includes Inspection Provision
Bill includes provision to take away redemption period from homeowner if purchaser at the sale finds certain damages, such as boarded up or closed off windows. [7/9]
- Free Checking Declaration
At a time when more than 60 percent of banks have eliminated free checking accounts, 65 banks and CUs sign a declaration of free checking. [7/9]
- Best Practices for an Effective MBL Program
Doing an effective job in assessing creditworthiness and tracking performance on a regular basis are the two areas that may have the most impact on the health and success of your member business lending (MBL) program; this article provides good information on best practices that you can adopt at your credit union. [7/8]
- New Combined Mortgage Disclosures Expected in the Fall
CFPB announces that new combined TILA/RESPA disclosure rule should be issued this fall; however, the CFPB notes that the implementation date would likely not be until sometime after the other new mortgage rules take effect in January 2014. [7/8]
- HAMP May Harm Some Communities, Help Others
There are hundreds of housing markets, rather than a national housing market; hence a program such as the Home Affordable Modification Program (HAMP) may help some markets while hurting others. [7/8]
- Does Reg. E Apply to Business?
Short answer: no. But there are steps you can do take to make sure it stays that way. [7/8]
