A professional world without data governance would feel something like Lewis Carroll’sAlice in Wonderland, with everyone involved sharing nonsensical ideas and talking in terms that don’t make sense to every…
The failure of Silicon Valley Bank was “a textbook case of mismanagement,” according to Michael Barr, vice chairman of supervision for the Federal Reserve. Nonetheless, the failure raises questions about…
Credit unions have always been better cooperators than competitors. The joint investments of five Washington-based credit unions to the Evergreen Impact Housing Fund (EIHF) is a shining example of the…
The current economic environment has many credit unions facing liquidity pressures causing senior leadership to take a closer look at balance sheet assets. External factors heightening these liquidity concerns include:…
There’s no doubt about it – money can get complicated. It’s emotional, compromising, and slippery, especially when one doesn’t understand how to use it to work for them. That’s an…
The Financial Crimes Enforcement Network (FiNCEN) issued guidance Friday on its Beneficial Ownership Information (BOI)reporting rule, which is effective Jan. 1, 2024. The Corporate Transparency Act (CTA) establishes uniform beneficial…
Rep. Scott Fitzgerald, R-Wis., introduced the NAFCU-supportedMaking CFPB Accountable to Small Business Actthat would require the CFPB to tailor its regulations for small businesses undergoing Small Business Regulatory Enforcement Fairness…
TheWest Regionchampion ofCUNA's Mascot Madnesstournament is ... Share Bear Share Bear, themischievous mascot of $8.7 billion assetIdaho Central Credit Unionin Pocatello, Idaho,received 541 votes (58.74%) to win a region that…
When it comes to taxes, IRAs and 401(k) retirement accounts offer a pretty good deal. When you put some of your paycheck into those accounts, that money isn’t counted toward…
It’s always easier to kick the can down the road…or at least itfeelseasier. Itfeelslike less work. Itfeelsless expensive. But no matter how it feels, avoiding pressing issues now will harm…
Every day we are bombarded with news about the threat of cyber-attacks looming over financial institutions. Let’s face it, at times, it can be overwhelming. The constant warnings of impending…
Credit unions are facing historic challenges that make compliance increasingly difficult: high staff turnover and increased regulatory oversight. But a thorough compliance management program can help credit unions manage staffing…
Sometimes, credit union professionals are presented with the issue of allocating credit card payments to an account with more than one balance. Once you receive the minimum payment from your…
NCUA released the March 2023 update of its Simplified CECL Tool.For most credit unions, CECL became effective at the start of 2023. For credit unions that started using the Simplified…
The U.S. Court of Appeals for the Second Circuit issued a decision Thursday in which it says the CFPB’s funding structure is constitutional as it was authorized by Congress and…
We're more than halfway through the first round of CUNA's first-everMascot Madness tournament. Watch the latest CUNA News Weekly Wrap-up to see which mascots are earning votes, who has advanced…
CUNA and Leagues continue to get the word out about credit union safety and soundness. We’ve reached out to members of Congress highlighting the ways credit unions are a stable,…
"No man ever steps in the same river twice, for it's not the same river and he's not the same man." This quote from Heraclitus illustrates that in both life…
In lending, it’s often a case of “racing to the bottom” regarding rates and pricing. Competitors all try to have the best and lowest rates in town to maximize their…
As we discussed in part one of ourQ1-2 2023 Economic Outlook, the financial sector appears well-positioned for an economic downturn. That being said, we are seeing the deterioration in delinquencies…
Over the last few years, we have all become familiar with operating our businesses in highly uncertain environments. Continued murkiness surrounding the possibility of a recession, the release of sometimes-troubling…
CUNAwrote in supportof legislation to establish an “appropriate” compliance timeline for the Consumer Financial Protection Bureau’s (CFPB) section 1071 rulemaking. The Small Lenders Exempt from New Data and Excessive Reporting…
NAFCU Senior Vice President of Government Affairs Greg Mesack sent member credit unions an update on discussions and efforts underway in Washington, D.C., in response to recent bank failures. Of…
Many of us are watching as the United States grapples with the failures of Silicon Valley Bank and Signature Bank, and Republic Bank receiving an infusion of USD 30 billion…