Credit union credit card programs stand a very good chance of benefiting under the CARD Act of 2009 if they maintain their traditional consumer focus and conservative underwriting, according to a new research paper from the Filene Research Institute.

“The implications for credit unions are exciting. Large-scale issuers may retain the competitive advantages of sophisticated automated underwriting and efficient back-office operations,” wrote Filene Chief Research Officer George Hofheimer in his introduction to “The CARD Act: Opportunities and Challenges for Credit Unions.”

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