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Articles Tagged with 'compliance'
CUs in the Post-Durbin World
November 19, 2011
With smart planning and strategic investments, CUs can make the most of this regulatory environment.
Debit Card Interchange FAQs
November 14, 2011
The Federal Reserve released a compliance guide that includes FAQs about the Electronic Fund Transfer Act.
Get Ready for a Compliance Deluge
November 09, 2011
The pace, complexity, and timing of today's regulatory changes are unprecedented, requiring CUs to rethink how they do business.
What Is Adverse Action?
October 15, 2011
The Dodd-Frank Act amended FCRA to require CUs to disclose that a credit score was used in taking any adverse employment action.
Examiners To Disclose CAMEL Ratings
October 01, 2011
NCUA has instructed examiners to begin sharing CAMEL ratings with federally-insured, state-chartered credit unions during all on-site insurance reviews and supervision contacts.
Interchange Fees and Routing
September 25, 2011
The Dodd-Frank Act amended the Electronic Fund Transfer Act by adding Section 920 regarding interchange transaction fees and rules for debit card transactions.
The Cost of Compliance
August 11, 2011
Credit unions can't ignore the cost of compliance and the need to budget for it.
Questions on Noninterest-Bearing Accounts
August 01, 2011
CUNA has received a number of questions from federally insured credit unions on NCUA's noninterest-bearing transaction account rule.
Get the Lending Lowdown
June 22, 2011
The complexity and depth of the compliance changes will tax CU staff and pocketbooks.
Draft a Compliance QB
June 14, 2011
Create and implement a compliance game plan.
Credit Union Magazine
July 2014 digital edition
Slide Show: The Daily Duties of a Home-Based CU Manager
Regulators Focus on Interest-Rate Risk
Where Does it All Go?
A Social Media ROI Success Story
Happy 25th Birthday, Filene!
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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