Mortgage lender fined $1.75M for inaccurate HMDA data
The CFPB has fined Freedom Mortgage Corporation $1.75 million for filing inaccurate Home Mortgage Disclosure Act (HMDA) data. Freedom is one of the 10 largest HMDA reporters in the nation.…
Syndicated
Diversity Insight: Embracing the human difference
As a small credit union, we were constantly advised by examiners and strategic planners from 2005-2014 to find our niche in our community. We are surrounded by large credit unions…
Why your credit union sales program may be lacking results
Sales are vital to the success of your credit union. Your institution requires new accounts and loans to generate the income necessary to cover expenses and build capital. Despite the…
A walk through CUAid history: 2005 Hurricane Katrina
June marks the beginning of hurricane season and at the Foundation, we are trying to raise awareness for disaster preparedness all month. While it’s something that you hope never happens…
Data use cases for credit unions: chapter 2
Chapter 1 of this series considered the importance in establishing a specific goal to solve using data analytics and proving the ROI in order to justify automation and decisioning using…
Why culture is critical to your success
No one wants to work in a bad office environment. As the leader of your organization, you set the tone and expectations for other managers and employees to follow. And…
Credit union women: Are you on track for retirement?
Quiz time! The unique financial planning needs of women include: A. a longer expected life span than their male counterparts. B. earning gaps from taking time off work to care…
How to humanize digital experiences in banking like Google
In a digital world, consumers can acquire enough information about a product or service on a smartphone or online to make a purchase decision without ever asking a question of…
FCC call-blocking rule includes relief for legitimate callers
The Federal Communications Commission (FCC) Thursday voted to approve its default call-blocking order, which includes a CUNA-supported mechanism for challenging erroneous call blocking. CUNA is concerned the order will lead…
NAFCU launches online community for compliance, risk & BSA professionals
NAFCU is launching a new Compliance, Risk & BSA Network to provide a platform to connect credit union professionals and share exclusive content from the association's award-winning compliance program. This…
PR Insight: Leveraging awards to grow your business
The laborious process of applying for industry awards can prove stressful and painstakingly long for credit union marketers. They may not consider the countless hours of drafting and editing award…
Check who’s knocking at your door
The online channel is a critical service tool for credit unions. The ability to provide convenient services anywhere and from any device is essential to a credit union’s member experience.…
Community bankers want congressional probe of credit union taxi debacle
A lack of oversight by the NCUA allowed New York credit unions to lure unsuspecting taxi drivers into taking out loans they could not afford, the trade group representing community…
Making it SAFE to bank the marijuana industry
Will Proposed Legislation Change the Risk Calculus for Financial Institutions? As states continue to legalize medical and recreational marijuana, pressure is mounting on both marijuana-related businesses (MRBs) and financial institutions…
It’s a brave new digital world. Not sure what to prioritize, or how? Start here.
Like most credit unions, you’re likely either beginning to think about or in the thick of a “digital transformation.” But given the swirl of new technologies and ideas—not to mention…
The art of credit union disaster recovery tabletop exercises
I won’t pretend to know much about theater. It’s just not my specialty. And yet, here I am, trying to explain credit union disaster recovery tabletop exercises by making a…
Four steps for dealing with excise tax
May 15 was the first payment date for the 21% excise tax on annual executive compensation in excess of $1 million to any one of a CU’s top-five paid executives.…
How Opportunities Credit Union throws a lifeline to underwater borrowers
Is America’s auto loan debt getting out of hand? The $73,200 base price of the 2019 Lincoln Navigator kind of says it all. With prices at the dealership on the…
FCC call-blocking proposal will include ‘safety valve’ for legit callers
As the Federal Communications Commission prepares to vote Thursday on a default call blocking proposal, CUNA’s concerns have been part of the media coverage of the proposal, and many of…
June 12: Get updates on CECL, BSA/AML, marijuana banking, more
NAFCU President and CEO Dan Berger and senior leaders of the association's award-winning advocacy team next week will give members an update on key credit union issues, including the current…
Loan Zone: Millennial homebuyers are struggling
Millennials have finally entered the housing market, but it hasn’t been easy for them. While the majority of homeowners are satisfied with their properties, millennials as a group report exceptionally…
Johnson named 2019 Credit Union Hero of the Year
Harlene Johnson, president of Light Commerce Credit Union in Houston, has been named Credit Union Magazine’s 2019 Credit Union Hero of the Year. Johnson will be recognized at the 2019…
Almost 12 million patients give blood & financial data in latest breach
Quest Diagnostics, a major blood testing company, warned that almost 12 million of its customers may have had personal, financial and medical information breached due to a collections vendor issue.…
Secrets of debit top performers
In our role as consultants to a broad family of credit unions, we have the opportunity to work with both underperforming and outperforming credit unions. Our engagement process provides us…