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Articles Tagged with 'compliance'
My First Year: The Good, Bad, and Downright Ugly
December 05, 2012
CUs focus too little energy on compliance. That must change.
Take a Holistic Approach to Compliance
November 21, 2012
Dividing compliance responsibilities among different departments leads to inconsistencies.
Expect a ‘Wild Compliance Ride’ in 2013
November 20, 2012
Compliance often lacks black and white answers, so the ability to interpret rules and assess risk is essential.
Compliance Management Programs
November 19, 2012
The CFPB has taken the Federal Reserve and Basel guidance and integrated it into its examination procedures
The Six Must-Have Skills for Compliance Officers
November 18, 2012
'The role of the compliance officer is changing and finding staff with the right skills is a higher priority than ever before.'
November 11, 2012
The SCRA provides certain financial protections to active-duty military personnel.
Compliance Q&A: Fair Credit Reporting Act
November 01, 2012
Members can receive a free copy of their credit reports from the nationwide consumer reporting companies.
SAFE Act Audit Deadline Approaching
September 18, 2012
The SAFE Act requires that credit unions subject to the Act’s requirements conduct an annual independent test.
Compliance Q&A: An Adverse Action Notice
September 01, 2012
Learn more about adverse action notices.
CUs Snowed Under by Compliance Burden
September 01, 2012
The pace of regulatory change in the credit union movement today is unprecedented.
Credit Union Magazine
July 2014 digital edition
Slide Show: The Daily Duties of a Home-Based CU Manager
Regulators Focus on Interest-Rate Risk
Advocacy Puts Board Members on Offense
Five Cyber Security Considerations for CUs
Win Employee Love: Four Steps
David, good point about the "recovering comfortably" comment. That was an editorial addition--which I'll remove.
Many good points but too rosy? Will the "Federal Reserve raise short-term interest rates 1% per year for the next three years, starting in 2015—“probably next year at this time” ? I have heard from other economist that the US government will go bankrupt if that happens due to the QE the fed has done for several years. Also it seems an exaggeration to say “We survived a heart attack,now the economy is recovering comfortably." Comfortably recovering is too ignore the economic stress that many members still live with daily that will eventually affect many credit unions.
Karan, Great article and insight. I would also recommend that you start getting those credit cards into the hands of the youth BEFORE they are in college. One of the best ways to reach this young generation is through mom and dad. Before the student goes to college, get them started with a credit card (even if mom and dad are joint on it). It's never too early to start marketing credit cards. Mark
I would respectfully disagree that transactional data is a good place to start. In my opinion, relationship data is a much better starting point. Transactional data tends to require more "mining" of thousands/millions of transactions to identify opportunities or threats. Relationship data, however, involves identifying and profiling your high-value relationships (those profitable relationships with multiple products/services, for example) and leveraging that information to attract/cross-sell similar members. Generally involves a bit less effort and quite a bit higher return.
Congratulations on a fine article. Perhaps the best advise is unsaid but exemplified throughout the article - namely avoiding the use of the term "Financial Literacy." The term is insulting and counterproductive because it implies that those who take the training are "Illiterate."
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