Regulatory fallout from the housing crash, the Credit Card Act of 2009 and the new Consumer Financial Protection Bureau are making the daily duties of a loan officer look increasingly more like those of a compliance officer. Below are the most burdensome, difficult and confusing current regulations and proposed rules...
Despite comments made by co-sponsor Sen. Chuck Schumer (D-N.Y.) April 23 that suggested a vote on S. 2231 may be delayed, credit union trade associations continue to crash the net in support of the Small Business Lending Enhancement Act.
From Regulation B to Regulation Z and beyond, the Consumer Financial Protection Bureau inherited a number of regs from seven different agencies. In doing so, the CFPB has made it a priority to streamline regulations by updating, modifying and even eliminating some provisions.
For some Gen Yers, the call to be their own boss is much stronger than working for someone else.
A year after financial troubles led to its conservatorship, Texans Credit Union's fiscal health appears to be improving.
It may be hard to truly gauge whether the majority of members are feeling skepticism toward signs that an economic recovery is well on its way.
As the payment industry begins to move toward replacing magnetic stripe cards with cards that use embedded smart chips, credit unions and other card issuers will have to eventually decide whether they will issue cards that use personal identification numbers or signatures to validate transactions.
In one corner there is Plano, Texas-based Catalyst Corporate. In the other there is Dallas-based IP Navigation, a firm that specializes in “patent monetization.” There also was a letter, sent by IP Nav to Catalyst. And then Catalyst responded with a suit filed in the US District Court in the...
Lending giants U.S. Bank and JPMorgan Chase recently announced they had eliminated and reduced their private student lending programs, respectively. JPMorgan Chase will only make private student loans for existing customers.
For financial advisers, the traditional methods used to help members when it comes to their long-term planning needs may be going the way of the dodo bird.
Now you have it, now you do not. Puzzlement has percolated on the part of some in the industry over the insistence by the NCUA that indemnification and coverage of legal fees incurred by the onetime WesCorp officers it is suing are not owed. That is, the defendants (now down...
In life you depend on a lot of people. Your family and friends, your doctor and your banker, for example. They’re there to keep you healthy, and even sane at times, and your important belongings safe. These people in your life have been there with you and worked to earn...
Jill Nowacki, vice president of development at Maps Credit Union, had big dreams of doing public relations for an NFL team or starting a nonprofit. But a contract marketing position with the Montana Credit Union Network led to her to discover her true calling.
Now that I’ve been writing for Credit Union Times for more than a year, I consider myself decently well-versed in the credit union industry. But I remember being one of those young adults who was clueless about credit unions. Every time I passed by a credit union branch, I thought,...
A new analysis by Sandler O’Neill underscores how critical the sheer size of financial institutions has become to their surviving and thriving. Yet top performing credit unions are being held back by a systemic lack of accountability.
In last month’s Cooperative Trust column, Erin Steffen’s message was clear: Don’t be afraid to up sell your products to members, and start considering technology channels as critical components of your service. [See CU Times, April 4, page 17.]
A credit union website is a combination of features and strategy. Just the features alone, however, won’t ensure that the website is doing what it should for the credit union.
I loved the flower shop analogy used by Paul G. Merski in his “CU’s Fundamental Injustice” letter in the April 11 issue. His point was well made. He just didn’t carry the analogy to its conclusion.
Buffalo Metropolitan Federal Credit Union is celebrating its 75th anniversary on later this month.
KeyPoint Credit Union announced that Brad Canfield is the credit union’s new president/CEO. Canfield joins the Santa Clara, Calif.- based credit union with more than 25 years of experience in the financial services industry, including executive leadership roles at BECU and 1st Security Bank. He succeeds Tim Kramer, who was...
Surprising customers at Dunkin Donuts on Lakeview Avenue in Dracut recently, Jeanne D’Arc Credit Union employees performed a random act of kindness by handing out free T-shirts and $5 Dunkin Donuts gift cards.
NCUA Board Chairman Debbie Matz recently announced the appointment of Martha J. Ninichuk as deputy director of the Office of Small Credit Union Initiatives.
Oceanside Christopher Federal Credit Union announced the appointment of Kevin Timoney as chairman of the board.
Longtime credit union attorney and advocate Joseph Melchione, a senior partner of Styskal, Wiese & Melchione, passed away on April 17 from lung cancer.
In tough neighborhoods, when there’s a knock on the door, street smart people don’t unlatch the deadbolt until they know who’s there.
Robert Taylor was so impressed with the core processing system at the smaller credit union his Idaho State University Federal Credit Union was merging that the CEO is not only keeping that platform around, he’s buying a piece of the company.