Lending

Michael McLain The Fed limited a troublesome CARD Act provision to credit cards. Many credit unions have had difficulty complying with the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009. The requirement that a periodic statement be provided at least 21 days prior to a loan payment due... READ MORE

How can credit unions know whether their staff training programs are on the mark? By conducting a training needs analysis (TNA) to determine what employees need to learn to effectively perform their jobs. So says “Conducting a Training Needs Analysis for Your Credit Union,” a new white paper from the... READ MORE

By Bill Hardekopf The credit card industry is undergoing a major transformation in 2009 as a result of the Credit CARD Act and significant policy changes by issuers. This isn’t a new development but part of the evolution of credit cards. It’s interesting to look at the history of credit... READ MORE

This could be the beginning of a downward adjustment in used vehicle values, says Ricky Beggs, vice president and managing editor for Black Book USA , a Gainesville, Ga., publisher of electronic and print valuation guides. Each week, Black Book representatives attend more than 50 auto auctions nationwide, gathering data... READ MORE

With more than five decades in the credit union movement, Rita Haynes has faced many challenges. But the CEO of $11 million asset Faith Community United Credit Union in Cleveland rarely expresses discouragement.   Rita Haynes : "Dare to dream," and don't be stifled by regulations.   Watch now .... READ MORE

By Kelly Passey How competitive are credit card rewards today? A recent report showed that consumers search online for the best credit card rewards 514,610 times a month, according to Orange Soda , an online marketing company based in American Fork, Utah. Add 8,200 searches made specifically for debit rewards... READ MORE

By Bill Klewin There’s much to be said about what massive changes to the regulatory landscape could bring to credit unions. To set the stage, we need to remember the changes we’re facing: * New rules regarding the Real Estate Settlement Procedures Act ; * New Regulation Z (Truth-in-Lending) rules... READ MORE

By Valerie Moss Q How should credit unions apply the Servicemembers Civil Relief Act's (SCRA) 6% interest rate cap to new advances under an existing credit card or open-end home equity line of credit program?   A SCRA’s 6% interest-rate cap applies only to outstanding balances on loans taken out... READ MORE

Bill Vogeney : "Take as many factors into consideration as you can" when doing loan modifications. Loan modifications are an unfortunate reality of the Great Recession: The percentage of modified first mortgages grew from 0.53% at year-end 2008 to 0.92% as of March 2009, according to CUNA’s economics and statistics... READ MORE

Advancements in payment technologies continue to offer speed and convenience for members. But at the same time, fraudsters have become more resourceful in their abilities to penetrate these new devices. READ MORE