Links in “Credit Unions”
- Consumer Credit on the Up
The Federal Reserve System has issued the December 2015Â G.19 Consumer Credit Report. Consumer credit increased at a seasonally adjusted annual rate of 5.75% during the fourth quarter. Revolving credit increased at an annual rate of 5.25%, while non-revolving credit increased at a seasonally adjusted rate of 6%. [2/8/16]
- Wisconsin Liquidates Tiny CU
CTK Credit Union of Milwaukee was liquidated Friday and the NCUA was appointed the liquidating agent. The CU had 397 members and assets of $163,197. [2/8/16]
- CFPB Releases Latest Consumer Compliant Report
As of January 1, 2016, the CFPB has handled approximately 790,000 complaints, including approximately 20,300 complaints in December 2015. [2/8/16]
- ABA: Two Thumbs Down on NCUA’s FOM Proposal
The NCUA asked for comments on its field of membership proposal. It got one from the ABA, which is "strongly opposed" and urges that it be withdrawn. Here's what it told the NCUA. [2/8/16]
- CUNA-backed Operation Choke Point Limits Passed by House
Thursday saw the U.S. House vote to pass a CUNA-backed bill to limit federal initiative that restricts depository institutions from entering into or maintaining a financial services relationship with specific customers by insisting certain criteria are first metâa bill mostly aimed at Operation Choke Point. [2/5/16]
- The Future is Bright for CUs?
A futurist reveals seven trends credit unions must take advantage of to stay ahead of the regulation curve and keep their futures on track. [2/5/16]
- NASCUS Cries Foul over NCUA Practices
The National Association of State Credit Union Supervisors or NASCUS, which oversees non-federal credit unions, is taking its federal counterpart, the NCUA, to task regarding NASCUS identified NCUA practices of shifting financial burden to NASCUS members via the overhead transfer rate or OTR. [2/5/16]
- CUNA to CFPB: CUs Have a Long History of Shaping Products to Meet Consumer Needs
In response to the CFPB's field hearing, the Credit Union National Association points out the credit union industry's long history of offering product choices to meet members' needs and hopes the CFPB doesn't place additional regulatory burdens that inhibit credit unions from further expanding their product offerings. [2/4/16]
- The Downside of the EMV Chip
Fraudsters react to the new EMV card technology by focusing on new account fraud, which more than doubled. [2/4/16]
- One Fewer Headache? Credit Union Tax Season Aid
Making the tax season process painless might not be possible, but the NAFCU wants to save you from at least one or two headaches. Their latest blog post outlines a number of CU specific tax FAQs, predictions, and helpful links. [2/3/16]
