Links in “Credit Unions”
- Regulatory Burden And Its Potential Impact On Credit Unions
Jim Nussle, President & CEO of CUNA, writes about how "yesterday's" regulatory burden predicts "today's" impact. Compiling a study done on 2014's regulatory costs and conveying his concerns in this op-ed article featured in today's, The Hill. [2/22/16]
- What Steps Can Be Taken Towards Lending Success?
Tracking loan program progress using a method suited for your institution could spell lending success. Using this information to follow trends and creating a schedule to meet member needs are all benefits of implementing a working program. [2/22/16]
- Is Too Much Fraud Prevention Actually A Bad Thing?
An industry survey has shown that the majority of potential credit union members prefer to open accounts remotely, but more than half of those applicants abandon the application due to an overabundance of fraud prevention protocols within the online process. [2/19/16]
- CUNA Releases New Resource For Credit Unions Regarding Regulatory Burden And Its Cost
A new website was released by CUNA pertaining to the cost of over-regulation and its impact on the credit union industry. [2/19/16]
- About To Make An Industry Breakthrough? Familiarize Yourself With CFPB’s “No-Action Letter”
Is the institution about to innovate a product or service but the regulatory compliance is posing a slight issue? CFPB has finalized a policy that will help with this imposing question. [2/19/16]
- How to Perform Effective Damage Control When Your Membersâ Identities Are Compromised
It happened to Fulda Area Credit Union and it could happen to yours, or maybe it already has. Scammers send messages that target your members indicating there has been a breach at the credit union and requesting personal information for verification purposes. Learn how Fulda Area Credit Unionâs rapid response to the news of the scam successfully controlled the potential damage that could have occurred. [2/18/16]
- MBL Final Rule on Todayâs NCUA Board Agenda
The NCUA Board will be voting today on the proposed changes to the member business lending rule that removes many of the limits on underwriting criteria, as well as eliminating the personal guarantee requirement. If approved as proposed, individual credit unions would be able to set their own underwriting standards based on the credit unionâs business model and risk tolerance. [2/18/16]
- Credit Unions Not Unleashing the Power of Technology
A new report from the Filene Research Institute entitled, The State of Data Technology in Credit Unions: The Sink-or-Swim Crossroad Ahead, warns that credit unions are not unleashing the full power of technology and as a result have not allowed technology to transform the way they do business. The paper identifies a number of opportunities that credit unions should be taking advantage of from the use of actionable data and member scorecards to the use of predictive analytics, multichannel relationship management, and simpler banking enterprise ecosystems. [2/18/16]
- More Subprime Borrowers Receiving Credit Cards and Auto Loans
TransUnion reports that 1.26 million more subprime borrowers had outstanding credit card balances in 2015 versus 2014 and 1.21 million more had auto loans. However, despite these increases, delinquency rates have not shown any significant increase. Declining energy costs and unemployment rates are cited as the likely drivers for this positive trend. [2/18/16]
- CUs Asked to Urge Congress to Extend Exam Schedules
NAFCU is encouraging credit unions to contact their Congressional representatives today to ask them to sign a letter to NCUA Chair Debbie Matz requesting that the agency return to the 18-month exam schedule. The letter advises that a longer exam cycle will provide needed regulatory relief and better allocate NCUA resources. [2/17/16]
