Beware of the electronic mule
A recent guilty plea in Federal District court in Brooklyn is the latest example of how a fool and his money are easily separated and how financial institutions are often left paying the bill. On [...]
Posts Tagged ‘New York’s State of Mind’
Does your credit union have workplace prisoners?
According to the WSJ about 8% of employees are “workplace prisoners,” a category described by consultant Aon Hewitt as people who stay at their jobs despite feeling unmotivated, disengaged and generally negative about their employers . ([...]
NCUA strikes balance with FOM changes
The National Trades were justifiably effusive in their praise of the NCUA Board’s decision finalizing several key amendments to the Chartering and Field of Membership Manual, in addition to proposing several additional changes for [...]
The bureau’s latest bogeyman: Screen-scraping restrictions
When the benign dictator of consumer protection says he’s “gravely concerned” about something, it’s best to pay attention to what’s on his mind. So, this morning I want to give you a [...]
How internet “of things” is complicating your cybersecurity
On Friday, access to major websites, including twitter, Netflix and the New York Times, was shut down as the result of a massive distributed denial-of-service attack just after 7 a.m. When Twitter couldn’t [...]
Consent order against Navy Federal Credit Union could sink long standing credit union rights
On Tuesday the CFPB announced an enforcement order against Navy Federal Credit Union for engaging in unfair and Deceptive collection practices against delinquent members whose accounts were delinquent. One of the violations cited by the [...]
Is biometric security already obsolete?
Here is one more thing to keep your IT department up at night. An international security consulting firm, has created quite the stir across the pond by reporting that hackers have already figured out not [...]
What payday loans and the Mets have in common
Somethings are just meant to be. The Mets are almost always going to be no better than a slightly above average baseball team, destined to leave their fans in stunned disbelief like a bride left [...]
Basic account protections extended to prepaid cards
The Bureau that never sleeps is at it again. Yesterday it released final regulations extending basic account protections and to prepaid cards. The regulations take effect next October. The rule generally applies to general use [...]
Big banks big winners in “debate of the century”
According to The Hill newspaper, the “Debate of The Century” lived up to its billing. If that’s true then my increasing pessimism about the future of this country is totally justified. I’m not [...]
The greatest generation loses one of its greatest, Arnold Palmer
Before I get to today’s credit union business, you may have seen that Arnold Palmer passed away over the weekend. If you love sports then you owe it to yourself to know about Palmer. [...]
Consider yourself warned
As the saying goes “problems” flow downhill, so as I started reading the details of the Wells Fargo account opening scandal and the $100 million fine imposed on it by the Consumer Financial Protection Bureau, [...]
Are regulations hurting mortgage lending?
What impact has the Dodd Frank Mortgage servicing rules and pending risk based capital requirements had on credit unions and small banks? The question is an important one since many credit union advocates, including this [...]
What’s Next For Fannie, Freddie and Credit Unions?
by Henry Meier As the pace begins to pick up in Congressional efforts to re-examine the tax code, credit unions are understandably nervous about even the whiff of legislation to do away with their tax [...]
What Timeshares, Debtors and Debt Collectors Have In Common
by Henry Meier Many of us know someone who knows someone who got stuck with a timeshare in New Orleans. You know how it goes. Rekindled romance and one too many mojitos made the normally [...]