TheFinancial Crimes Enforcement Network(FinCEN) is soliciting comment on whether it should develop a process for issuing no-action letters when they are requested by financial institutions. “A no-action letter is generally…
The Atlantic hurricane season begins June 1 and will run through November 30, 2022. Weather forecasters at the National Oceanic and Atmospheric Administration’s (NOAA’s) Climate Prediction Center expect 2022 to…
Member loyalty isn’t what it used to be. Once upon a time, loyalty was the product of proximity, or due to a family or friend recommendation.But loyalty has changed. It’s…
We’re talking new fraud trends with the Co-Founder and CEO of Sentilink, Naftali Harris. He shares insights about the latest attacks on credit unions, what new tactics are criminals using,…
Illinois Credit Union League (ICUL) President/CEO Tom Kane recently appeared onCU Broadcastto preview thesecond annual #ILoveMyCreditUnion social media blitz campaign,scheduled forJuly 29. “This all started a couple years ago when…
The Federal Housing Finance Administration (FHFA) last week published afinal rulethat requires the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, to submit annual capital plans to the agency for…
Many would agree that the world turned upside down in 2020, so last year,Affinity Federal Credit Unionstarted brainstorming how to move forward at a time when most of us were…
Upstart has learned many lessons from its journey applying machine learning (ML) techniques to the lending process. Here are the major takeaways from Upstart’s ML journey, including how the company…
It can be disheartening to see your credit score drop after a financial setback. Whether you missed mortgage payments, made the hard choice to file for bankruptcy or faced something…
If you’re like most of us, you find cryptocurrency a bit… well, cryptic. While we’re intrigued, we’re also uncertain—and even moreso after the recent crypto crash. Credit unions have been…
Word of mouth is said to be the most valuable type of advertising. And given ever-tightening marketing budgets, credit unions cannot afford to lose this avenue to get the word…
More than ever before, homebuying has become an increasingly stressful process. What should end in joy; moving into new, cozy surroundings and getting a fresh start, can instead feel like…
Leaders from CUNA, the Illinois Credit Union League, Faith-Based Credit Union Alliance, Inclusiv, and CUNA Mutual Group, met with leaders from the Congressional Black Caucus (CBC) in Chicago. The groups…
Total vehicle sales fell from 14.5 million annualized units in April to 12.7 million annualized units in May; monthly sales levels were down 24.8 percent year over year. NAFCU Chief…
Keynoting Friday’sCU PrideLeadership Conference, both the chair of the board of the National Credit Union Administration and a regional VP at Visa encouraged program participants to keep on with their…
The latest edition ofFirst Line of Defense™ raises the alarm on two key kinds of fraud and how to spot them: quick response code scams and car wrap scams. QR…
Activating new credit cards is a very common practice that today is pretty simple and easy, but just a few years ago, activating a new card you received in the…
Chances are, your financial institution is currently looking to fill open positions—but we all know that work doesn’t stop coming in just because you don’t have the employees needed to…
Credit unions applying to expand theirfield of membership(FOM) are facing increasingly longer wait times for applications to be approved, according to data from the National Credit Union Administration (NCUA)’s Office…
NCUA recently releasedNCUA Letter to Credit Unions 22-CU-07(letter) discussing the use of distributed ledger technologies. NCUA’s tone suggests a “form-agnostic” approach, one championed by NAFCU in a Septembercomment letterto NCUA…
Young credit union members took the theme of “Save Small. Dream Big.” and made that a reality by depositing $4,799,110 into their savings accounts during the 2022 National Youth Savings…
The Treasury Department Tuesdayannouncedthe fiscal year 2022 application round for the Community Development Financial Institutions (CDFI) Fund and Native American CDFI Assistance (NACA) program closed with 719 organizations from across…
LGBTQ+ Americans are experiencing economic distress at a higher rate than their straight and cisgender peers, according toAugust 2021 datafrom the U.S. Census Bureau. Overall, about 13.1% of LGBT adults…
Your credit union or community bank is constantly chasing younger demographics – Gen Zers, Millennials and growing families. And you’re right to do so if you want to grow loan…