At the last National Credit Union Administration (NCUA) Board meeting, the NCUA Board approved an interim final ruleto update NCUA’s regulations regarding the Central Liquidity Facility (the Facility or CLF).…
Two CUNA Directors have recently announced their resignation from the Board of Directors, in District 6, Class B and Class C. The CUNA Board of Directors voted last week to…
Federal financial regulators – including the NCUA – Monday issued a request for information (RFI) seeking insights into financial institutions' use of artificial intelligence (AI) and machine learning. NAFCU recognizes…
Originally utilized in 1969, LIBOR—the London Interbank Offered Rate—was officially adopted by the British Bankers Association in 1986 as a benchmark rate. It has subsequently become the global standard for…
Currently, there are many different definitions of open banking in our industry. Depending on the motivations of the reviewer, it can be defined as “an attempt to democratize financial data…
Marc Ernest joinedFranklin Mint Federal Credit Union($1.4B, Chadds Ford, PA) in 2008 after several years as a branch manager in the community banking world. He held several branch management roles…
We’re drawing to the end of Women’s History Month, a month that I think deserves some special reflection within the financial services industry. Financial services and products have historically been…
When I worked in a credit union, I oversaw the installation of new AML/CFT (or BSA) software for our credit union to use. The salesperson promised the installation would be…
CUNAhas been awarded a Top Workplaces 2021 honor by The Wisconsin State Journal for the second consecutive year. The list is based on employee feedback gathered through a third-party survey…
Bank lobbyists are continuing to push misleading attacks against credit unions to lawmakers, but NAFCU is setting the record straight by providing the facts on the benefits of the credit…
You know what they say: The race doesn’t always go to the swiftest. Sometimes it goes to the person who hangs in the longest—making perseverance, rather than speed, what it…
Riddle me this: what does Frankenstein have to do with Financial Institutions? An antiquated core system, two data centers, a bunch of physical equipment, ancillary products patched on…oh. A Frankenstein…
“Through this recovery, continuing to put our finger on the pulse and look at the data we have at our disposal is enormously important to see where insurance or uninsured…
Succession planning involves building a pipeline of future leaders aligned to key roles, to reduce the potential for gaps and loss of institutional knowledge when vacancies occur. Done well, succession…
With less members coming into branches, credit unions are relying heavily on internet advertisements to increase business. But can a credit union send marketing emails to its members and non-members?…
It’s no secret that data analytics are more important than ever to today’s businesses. No longer confined to just giant technology companies, data analytics have found their way into finance,…
CUNA’s CompBlog addresses the new provisions of the Anti-Money Laundering Act of 2020, as there will likely be much activity around the law’s implementation. National examination and supervisory priorities are…
NAFCU's Andrew Morris offered the association's full support for the NCUA's proposed rule to amend its risk-based net worth (RBNW) requirement as the relief provided by it "will enable credit…
The credit union mantra, “people helping people,” is such an all-encompassing message across the industry. From great services to a complete line of products, this message ensures that each member…
On March 24, 2021 the CFPB published its annual report summarizing the kinds of complaints consumers made throughout the prior year. The report is generally divided into two broad categories…
Under the gun from lawmakers and lawsuits, Google’s™ web privacy efforts have made it harder for advertisers, publishers, and data brokers to gather personal data without users’ permission.Google™ will no…
Big data in banking has only gotten bigger. Through digital channels, third-party applications and enhancements to core systems, institutions have access to more banking data than ever before. And bankers…
Chances are, you’re already using surveys to track your financial institution's performance or to analyze your market, but are you really getting the most out of them? Customer surveys not…
The coronavirus pandemic has changed our approach to work – from how we manage our teams to our vision for the future. In leading through an unexpected crisis, there have…