A Republican senator said today he will mount an effort to convince Congress to nullify the newly released CFPB’s arbitration rules. "The CFPB has gone rogue again, abusing its power in a particularly harmful way,” said Sen. Tom Cotton (R-Ark.). “The...
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?
Men, Millennials Driving Rise of Fintech
Financial technology is about to go mainstream. That’s according to the EY FinTech Adoption Index, which finds that fintech adoption among consumers has surged globally over the past 18 months—in the U.S. it’s doubled...
Survey: Trump’s Policies Influencing Home Buying, Selling Plans
President Donald Trump’s immigration policies are apparently influencing the home buying and selling plans of Arabs, Asians and Latinos, according to a national survey of more than 3,000 people who bought or sold a home in the last year. The survey also found...
CU Aims to Merge Dual Cores Into One Open, Flexible System
The $2.4 billion based Albuquerque, N.M. Sandia Laboratory Federal Credit Union selected San Diego-based, Corelation, Inc., to convert unwieldly dual core processing systems into a single, flexible and open architecture. SLFCU chose Corelation’s KeyStone member...
CFPB Issues Final Arbitration Rules; Rejects Pleas for CU Exemption
The CFPB on Monday released final rules that will restrict the use of arbitration clauses in financial contracts—specifically rejecting the argument made by credit unions that they should be exempt from the regulations. “While credit unions may be...
Credit Unions Onboard New Talent
This past week, nine credit unions across the nation announced hires, promotions, board appointments and certifications. Check out the latest People news here. WEST Tessa Bonfante, COO of the $315 million Denver Community Credit Union in Denver, was elected to serve...