Recently we blogged about various compliance considerations for credit unions dealing with ransomware. That blog published mere days after a major oil pipeline serving the Eastern United States was crippled…
Remember the good old days of the 1990s? Back in the day, you could drive your Saab 900 to Bed Bath and Beyond to get some towel racks on your…
The Consumer Financial Protection Bureau (CFPB) recently issued sets of frequently asked questions on Electronic Fund Transfer Act and Regulation E requirements, as well as servicing escrow accounts under Regulation…
NAFCU’s Brad Thaler Monday wrote to House Speaker Nancy Pelosi, D-Calif., and House Minority Leader Kevin McCarthy, R-Calif., along with all House members, to call for support of a resolution…
In April, Earth Day turned 51—a bleak and sombre milestone, more than a celebratory one. The decade 2011-2020 was thewarmest onrecord. Global temperatures have risen 1.2 C, due to carbon…
The impact of the pandemic on the banking industry was immediate. The shift to digital transactions not only changed the industry, but every industry globally, as consumers accepted the need…
Numbers don’t lie, and that’s the truth. According to Gaurav Bhatia, CMO at PenFed CU, knowing your numbers is the key to working smarter, not harder when it comes to…
Now that U.S. consumers are coming out of their COVID-19 cocoons and the new term “revenge spending” is in motion, financial institutions may be wondering what categories they should focus…
Take a look at the loan portfolio ofAmerican 1 Credit Union($552.1M, Jackson, MI), and it’s clear the cooperative is laser-focused on consumer loans. In the first quarter of 2021, the…
Indirect lending is a large part of many financial institutions' auto lending strategies. In fact, in 2020, credit unions held $378.2 billion in auto loan balances, or roughly 31.5% of…
The Federal Communications Commission (FCC) should maintain a standardized requirement for voice service providers to provide notifications of blocked calls, CUNA and other organizations said in comments filed with the…
The Bureau of Labor Statistics reported non-farm payrolls increased 559,000 in May, and the unemployment rate fell to 5.8 percent. NAFCU Chief Economist and Vice President of Research Curt Long…
The financial services industry had a landmark year in operational transformation and, whether due to safety concerns or due to necessity by lockdowns, consumers have changed since Q1 of 2020.…
It’s officially Pride Month! Last year, we saw many credit unions celebrating Pride Month and particularly enjoyedthis roundup from CUNAfeaturing notable Pride-related tweets. We love blog posts and social media…
What motivates CUES member Bill Vogeney, chief revenue officer at Ent Credit Union in Colorado Springs to find time in his hectic schedule to help a group of smaller credit…
Credit unions aren’t alone in facing digital disruption, new competition, and unexpected surprises in the marketplace. Traditional auto dealers, for example, felt the pinch as U.S. consumers opted to avoid…
When it comes to the digital economy, the United States has been a holdout. Still, there was $895.7 billion worth of U.S. digital transactions in 2020. As most are aware…
In its May 2021 meeting, the National Credit Union Administration (NCUA) Board approved a final rule that amended its derivatives rule. A derivative is “a financial contract which derives its…
Federally insured credit unions reported net income growth of $11.3 billion, or 134.9%, over the year ending in the first quarter of 2021, according to the latest financial performance data…
Total vehicle sales fell from 18.8 million annualized units to 17 million annualized unitsin May. Monthly sales levels were up 40.3 percent year over year. NAFCU Chief Economist and Vice…
I’ve been in the credit union industry for more than 22 years. Throughout those years, I’ve been searching for all kinds of diversity … diversity of thought, action, operations, ethnicity,…
Happy Friday compliance friends! My name is Becky Harris, and I am one of two new Regulatory Compliance Counsels at NAFCU. This is my inaugural blog post, and I’d like…
Though trends often come and go, cost-saving movements tend to gain momentum and stick around—particularly for businesses. One area frequently targeted for savings by employers is employee benefits. It’s easy…
When it comes to the unexpected, it’s hard to feel proactive. Natural disasters are overwhelming, unexpected, and can change quickly. Service delays can be compounded as business operations stall, mail…