President Biden announced on Wednesday a government-wide crackdown on “junk fees,” including new efforts by the CFPB to eliminate bank charges that catch consumers by surprise. “These so called ‘junk…
When we discuss profitability, we often examine individual product types and their return on investment. For example, a specific loan’s profitability would be measured by adjusting its yield to include…
Comments on several regulatory items of interest to credit unions are due in the coming weeks including on NCUA’sdraft 2023-24 budget, due Oct. 28. The proposed combined 2023 staff draft…
While Members of Congress are back home in their districts,NAFCU is encouraging credit unions torequest theirlocallawmakerssupport theSecure and Fair Enforcement (SAFE) Banking Act.In July, the House included the SAFE Banking…
In 2020, theWorld Council of Credit Unionsincluded key demographics in its annualStatistical Report. The survey revealed that the average age of a CU member is 53 years old, and most…
Is your newsfeed oversaturated with fraud stories lately? This year was a frenzy of fraud with bold criminals who aggressively construct a risk landscape reflective of the technology-forward mindset of…
ISO 20022is a globally accepted messaging standardization approach (methodology, process,repository) to be used by all financial standards initiatives as a common platform for the development of messages. It was introduced…
Greetings, Compliance folks! Fall is in full swing - I recently took a trip to upstate New York for a family function and was delighted to see the gorgeous fall…
Having employed “mystery shoppers” in an investigation, theNational Community Reinvestment Coalitionreported Tuesday that racial biascontinues to plague the home appraisal industry. Using inter-racial couples in the Baltimore, MD area, the…
Messaging via Slack on how to gain and maintain engagement from both our teams and members, one account manager typed, “The credit unions that do well and hit their goals…
More than 17,000 gallons of diesel fuel is being distributed to credit union member farmers in Ukraine free of charge, as part of Worldwide Foundation for Credit Unions(WFCU) ongoing relief…
NCUA Board Member Rodney Hood met with NAFCU Senior Vice President of Government Affairs Greg Mesack, Vice President of Regulatory Affairs Ann Petros, and Senior Regulatory Affairs Counsel Aminah Moore…
On Sept. 27, under mandatory evacuation orders due to the impending Hurricane Ian, Trellance shut down our Tampa offices and redeployed to safer locations. We were concerned for our employees,…
Inpart one of this blog series, we discuss how auto loans are increasingly being paid off early and how this is impacting GAP (Guaranteed Asset Protection) waivers. Increasing voluntary protection…
Join Paul Davis, Director of Market Intelligence at Strategic Resource Management (SRM), in a discussion about Buy-Now-Pay-Later (BNPL) products and why exploring options to provide a BNPL product may be…
For the first time in five years, the financial wellness of Americansdeclined in 2022. The already fragile state of the nation—where 66 percent of us were considered financially unhealthy in…
While compliance may be a strategic function rooted in risk management, complying with regulations often comes down to details that vary with each rule. So technological solutions often focus and…
Holiday shopping season is upon us, and it’s shaping up to be a bumpy ride. To counteract challenging economic headwinds, major retailers like Amazon, Target and Walmart have tried to…
Despite year-to-year growth in overall membership and total assets for the global credit union movement, World Council of Credit Unions’ (WOCCU)2021 Statistical Reportshows major gaps in key product and service…
NAFCU Senior Regulatory Affairs Counsel Aminah Moorewrote to the Federal Housing Finance Agency(FHFA) Friday in response to the agency’scomprehensive reviewof the Federal Home Loan Bank (FHLB) System as it approaches…
Great innovations don't come along every day. And, usually, these ideas can't be fully realized unless the right conditions are met. Funding needs to be available, key players need to…
Here’s the bad news for you Credit Union folks: You are losing your competitive advantage over banks. Historically, Credit Unions have had advantages over banks in the following areas ––…
A key element in accelerating receivables is to make it as easy and convenient as possible for customers, members, or policyholders to pay their bills. Electronic bill presentment and payment…
These days, a lot of people’s feel more dread about the winter holidays than enthusiasm. That’s because the winter holidays are expensive, and thanks to inflation, more and more people…