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Articles Tagged with 'cfpb'
Guidance on Mortgage Servicing Rules
December 09, 2013
The CFPB aims to provide “greater clarity to the market” concerning mortgage servicing rules that take effect in January 2014.
CFPB Publishes Remittance Transfer Exam Procedures
December 01, 2013
The agency’s remittance transfer regulation went into effect on Oct. 28, 2013.
Understand Payroll Card Rules
November 19, 2013
Employees are entitled to the protections of the Electronic Fund Transfers Act (EFTA), and Regulation E’s provisions applicable to payroll cards.
Mortgage Servicing: What’s in Store?
November 01, 2013
As required by the Dodd-Frank Act, the CFPB will require periodic statements for most closed-end mortgages—not just open-end loans.
CFPB Bulletin Highlights Furnisher Responsibilities
November 01, 2013
Furnishers of information to credit bureaus are responsible for investigating consumer disputes forwarded by the consumer reporting agencies.
Mortgage Servicing Rule: A Moving Target
October 01, 2013
The CFPB revisions to the mortgage servicing rule demonstrate the agency’s attentiveness to lenders’ concerns.
Overdraft Report Raises Consumer Concerns
August 19, 2013
Despite the report, the CFPB isn’t expected to issue a rule to regulate overdraft practices this year.
CFPB’s Exam Procedures Are Valuable Tools
August 18, 2013
Review them to survive the tidal wave of new regulations and bolster your compliance efforts.
What’s on the CFPB’s Agenda?
August 05, 2013
Agency moves full speed ahead on additional regulatory rulemaking.
Find Mortgage Rule Resources Online
August 01, 2013
The CFPB created a one-stop shop for all its 2013 mortgage rules and guidance materials.
Credit Union Magazine
August 2014 digital edition
Beware of Casual Conversation with Members
Tech Budgets Are Going Mobile
Leadership Q&A: Brandon Michaels
Guard Against Employment Practices Liability Claims
Who Are Your Members?
While I thought that the premise of the article was good, I found one point very disturbing. It is that the Visions FCU ages people off their board at age 70. I found that really offensive. It perpetuates what I believe to be the regrettable marginalization of elders in our society, and the often erroneous assumption of debility and decline after a certain chronological age. Lots of folks over 70 are leading dynamic and viable professional lives and contributing to our society. How about Warren Buffet, a number of Supreme Court Justices, Jimmy Carter, the late Nelson Mandela and the late Maya Angelou, to name but a few, along with scads of writers, academics, performers, artists, and often our friends, neighbors and colleagues. If Visions wants new people on their board, it seems as though the term limitations and a nominating committee can accomplish that without aging all people off at age 70. I think that’s so insulting. And if those were paid employment, it would be illegal. I do wish you’d have picked a different credit union to profile---one that perhaps does many of the same things, without the arbitrary age exclusion. There have to be others out there.
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.
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