Uncertainty is a common theme among employers this year thanks, in part, to new technologies, an unpredictable Trump administration and a web of new compliance standards on every government level, according to an annual survey from the law...
Credit Union Industry News & Updates
The Credit Union & Banking worlds are changing faster today than they ever have. Keep informed about what’s going on in the industry.
WHAT’S GOING ON AT CREDIT UNIONS?
Congress Not Using Law to Wipe Out CFPB Prepaid Card Rules
Congress will not use the Congressional Review Act to prohibit the CFPB from issuing rules governing prepaid cards. The deadline for the House and Senate using the law to affect the rulemaking process expired Thursday. “When the CFPB originally released its...
Credit Unions Seek Limits on Race, Gender Reporting
Credit union trade organizations are pressing the Consumer Financial Protection Bureau to limit the scope of data they provide on business loan applications used by regulators to determine whether lenders are discriminating against women and minorities. CUNA and NAFCU...
CO-OP CEO Challenges Credit Union Industry to Adopt Digital Mindset
Todd Clark, CEO at CO-OP Financial Services, tied a bow around CO-OP’s four day THINK 17 conference in New York City by challenging credit union stakeholders to adopt a digital mindset. THINK 17 he explained is the first step in the digital transformation...
CU Auto Loan Fraud Leads to Legal Dispute
The $361 million Hudson Heritage Federal Credit Union is suing CUMIS Insurance for declining to pay a claim after the Middletown, N.Y.-based credit union was victimized by an auto loan fraud ring. In April, May and June of last year, three men joined the credit union...
Killing Fiduciary Rule Seen as New DOL Chief’s Top Priority
Labor Secretary R. Alexander Acosta (Photo: Diego Radzinschi) Labor Secretary R. Alexander Acosta has made halting the fiduciary rule’s June 9 compliance date as a top priority, with published reports saying he’s looking for a way to freeze the rule that...