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Articles Tagged with 'cfpb'
The Lending World According to CFPB: Mortgages
July 16, 2014
'CUs spent the past six months adjusting to the CFPB’s new mortgage rules, and they’re not done, yet.'
Livestream CFPB Advisory Meetings
July 14, 2014
Agency acknowledges CUNA's request for greater transparency by providing a video feed of its sessions.
Agency Expands HMDA Requirements
May 03, 2014
CFPB expands HMDA to help spot discriminatory or other negative mortgage lending trends.
Prepaid Card Disclosures Coming Soon
May 01, 2014
The agency seeks feedback from the public on the possible model disclosures online, and via email, Twitter, and/or Facebook.
CFPB Promotes Fair Transactions
March 25, 2014
Most consumer complaints concern debt-collection practices.
Consumer Booklets on Mortgage Lending Rules Available
March 01, 2014
The CFPB updated three publications in January to reflect the agency’s new mortgage lending rule.
What to Expect from the Consumer Financial Protection Bureau this Year
March 01, 2014
Based on the agency’s semiannual rulemaking agenda, here's a snapshot of what to expect in months ahead.
Fear Your Members
February 05, 2014
Assess the risk of litigation in your business decisions and compliance efforts.
Visit CUNA's Mortgage Rules Resource Page
January 14, 2014
CUNA's Compliance Team consolidates resources related to CFPB's 2013 mortgage rules on one Web page.
CFPB Considers Debt Collection Rules
January 07, 2014
CFPB is seeking information from the public on many issues.
Credit Union Magazine
July 2014 digital edition
Slide Show: The Daily Duties of a Home-Based CU Manager
Advocacy Puts Board Members on Offense
Win Employee Love: Four Steps
Five Cyber Security Considerations for CUs
Harness the Power of 'Intrapreneurship'
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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