In sweeping change, Biden administration to ban medical debt from credit reports
In a sweeping change that could improve millions of Americans’ ability to own a home or buy a car, the Biden administration will propose a rule Tuesday to ban medical…
Syndicated
CFPB warns financial institutions: Be careful of using unlawful ‘fine print’
Credit unions and other financial institutions had better be careful about what they place in the “fine print” of their contracts for products or services, the CFPB warned inan advisory…
Unlocking the potential of your credit union: The benefits of outsourcing marketing
In today’s competitive financial landscape, credit unions face the dual challenge of attracting new members while retaining their existing ones. Effective marketing is essential to achieving these goals, yet many…
Taps, swipes, and stars: Creating a contextual banking experience that performs
Tap here; swipe up: the business of modern banking often happens on your clients’ phones, not your lobby. Digital banking solutions aren’t just a ‘nice to have’ now; they are…
Treasury seeks input on use of AI in financial services
The Treasury Department released arequest for informationon the uses, opportunities, and risks of artificial intelligence (AI) in the financial services sector. The Treasury is seeking public comment on the uses…
A movement where all credit unions thrive
There’s been a lot of debate within our movement over the last few weeks about the Overseas Military Banking Program. It’s unique in the sense that there are opposing viewpoints…
Banks see risk in dependence on Big Tech’s AI capabilities
The growing dependence of banks on Big Tech companies for artificial intelligence (AI) capabilities is reportedly raising concerns about new risks. This dependency of the financial industry on a limited…
How Element FCU defies the odds with grit, humor, and heart
Welcome to our100th episodeof The Remarkable Credit Union podcast! We couldn’t have asked for a better guest to help us celebrate this milestone—the inimitable Linda Bodie, Chief + Innovator atElement…
Legal implications of using AI in customer call monitoring
Navy Federal Credit Union is currently facing a class action lawsuit over its use of artificial intelligence (AI) technology to monitor customer calls (see,Paulino v. Navy Federal Credit Union et…
Where is Visa headed with its ‘Flexible Credential’ concept?
Visa’s mid-May unveiling of the concept of the “Visa Flexible Credential” has left payments industry people trying to work out what the move is really about, how it will work…
Investors brace for the Fed to dial back its 2024 rate cut predictions
Investors are on edge this week as Federal Reserve officials prepare to signal how many interest rate cuts are still likely in 2024. Most market watchers believe policymakers will dial…
This week: CFPB director to testify, primaries in 4 states
The House and Senate are both in Washington, D.C., this week, and America’s Credit Unions will be engaged on multiple credit union priorities. CFPB Director Rohit Chopra is scheduled to…
Removing friction from the lending experience: Insights from Fortera Credit Union on the Banking Transformed Podcast
In the high-stakes arena of financial services, where competition is rapidly rising, staying ahead of the curve is not just crucial—it’s the difference between thriving and falling behind. And it’s…
Navigating millennials in banking: Capturing the impending generational wealth transfer
Rapid technological advances and significant socioeconomic shifts have positioned financial institutions at the cusp of a major generational transition. Millennials, who represent ages 28 to 44, are often defined by…
NCUA charters Fair Break FCU in Memphis
The National Credit Union Administration announced Thursday that it has granted a federal charter and Share Insurance Fund coverage to Fair Break Federal Credit Union in Memphis, Tennessee. The credit…
The need for evolution: One of today’s central governance challenges
I spent the morning interviewing another credit union board chair. It’s one of my favorite parts of the job. I always learn something new, and I leave every encounter feeling…
Reminder: 2024 CDRLF grant round application period ends July 1
Low-income-designated credit unions have until July 1 to apply for 2024 Community Development Revolving Loan Fund (CDRLF) grants. The NCUA will administer more than $3.4 million in CDRLF grants to…
To grow or not to grow? That is not the right question
In the continually evolving landscape of finance, growth is not just a goal, but a necessity for survival and prosperity. Financial institutions operate in highly competitive environments where growth not…
House Subcommittee approves bill that would change CFPB structure, funding
House Republican appropriators are proposing again to convert the Consumer Financial Protection Bureau into a five-member commission that would be subject to the annual appropriations process. TheFY25 Financial Services appropriations…
A credit union-like story: Bank of Dave
Streaming on Netflix is the movieBank of Dave. Set in Burnley in the north of England, it is the story of a local van seller who sought the first new…
The five fundamentals of credit union marketing
Thesecond partof this blog series covered how to forge an incredible brand. But an incredible brand means little if you don’t tell anyone about it. Or in other words, a…
Accelerate transformation through agile growth
We tend to think about time in a linear way, as made up of three parts: past, present, and future. But this concept of time, straightforward as it may seem,…
US Treasury seeks public comments on AI use in financial services sector
The U.S. Treasury Department said on Thursday it is seeking public comments on the use of artificial intelligence in the financial services sector. The agency is looking to improve its…
Credit union-backed candidates sweep primaries in 5 states
All 17 credit union-supported candidates won in primary elections Tuesday in Iowa, Montana, New Jersey, New Mexico, and South Dakota. Each candidate was supported by America’s Credit Unions PAC and…