Lending

Contactless Cards: Lower Risks and Raise Rewards

September 25, 2009
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

Guilt by Proximity

September 23, 2009
James Collins Outrageous card practices begged for legislation. Question: What do you get when you lock a million monkeys in a room with a million typewriters and wait a million years? Answer: Lots of monkey poop. You might also get the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of... READ MORE

Who's Afraid of Decoupled Debit Cards?

September 23, 2009
Judy Dahl It’s an innovative product, and one CUs should keep an eye on. “Open a debit card account with us and we’ll link it to your existing checking account. You’ll earn rewards for every transaction.” This is the type of message some mega card issuers spread to convince consumers... READ MORE

Members Get a Charge Out of Prepaid Cards

September 23, 2009
Patrick Totty Vendors offer an array of specialized card options. Brian Scott remembers when The Members Group introduced prepaid card products for credit unions. “It was about six years ago,” says Scott, vice president of sales for the Des Moines, Iowa-based company. “The primary impetus that pushed us into the... READ MORE

CARD Act, Proposed CFPA Remain Major Concerns

September 23, 2009
Mary Dunn Serious issues with the 21-day rule persist. Whether financial reform can proceed in Congress is unclear. But one component of the Obama administration’s reform package that could advance is the proposal for the new Consumer Financial Protection Agency (CFPA). While the prospects for Senate action on the proposed... READ MORE

Reg Z Revisions Keep Coming

September 23, 2009
Nichole Seabron Changes affect fees, disclosures, and advertising. The Federal Reserve Board’s revisions to Regulation Z (Truth in Lending) definitely will affect how your credit union does business—in both major and minor ways. It’s worth taking a closer look at two amendments in particular: the changes under the Mortgage Disclosure... READ MORE

An Opportune Moment

September 23, 2009
Dianne Molvig Use the consumer backlash from banks’ credit card practices to your CU’s advantage. Like a lot of people, Bill Winter still gets credit card offers in his mailbox, but not as many. And the ones he gets aren’t very appealing. “I got an offer the other day that... READ MORE

The Evolution of Credit Cards

September 23, 2009
    The credit card industry has certainly had a colorful past, but it’s now at a crossroads. Robert D. Manning The U.S. credit card industry’s lust for ever-greater profits—the highest in retail banking—has collided with the consumer-led recession and the collapse of the conglomerate structure of commercial banking. It... READ MORE

Hispanics Drive Member Growth

September 23, 2009
Attracting and serving Hispanic members drives membership growth and bolsters the bottom line. READ MORE

The First Supper

September 23, 2009
An embarrassing moment sparks a multibillion dollar industry. In 1949, Frank McNamara, head of the Hamilton Credit Corp., went out to eat with some of his buddies. At the dinner were Alfred Bloomingdale (grandson of the founder of Bloomingdale’s department store) and Ralph Sneider, McNamara’s attorney. The three men ate... READ MORE

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