Lending

Gift Card Compliance Begins in August

June 01, 2010
This spring, the Federal Reserve Board amended Regulation E to implement the gift card provisions of the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009. READ MORE

How to Run a Successful Auto Sales Event

May 26, 2010
A recent auto sales event yielded three times the usual amount of applications. READ MORE

Mortgage Fraud Continues to Climb

May 14, 2010
Reported incidents of mortgage fraud and misrepresentation by professionals in the mortgage industry grew 7% from 2008 to 2009, according to The 12th Periodic Mortgage Fraud Case Report  from the Mortgage Asset Research Institute , a LexisNexis® service. “While this is a noticeable increase, we believe that mortgage fraud is... READ MORE

Five Mortgage Fraud Schemes

May 14, 2010
There are a variety of schemes by which mortgage fraud can take place—sometimes involving staff inside the financial institution. The Federal Financial Institutions Examination Council  warns financial institutions to be on the watch for these common mortgage schemes: 1. Buy and bail This scheme typically involves a borrower who is... READ MORE

Beggs on the Market: Vehicle Prices Stabilize

April 29, 2010
After five consecutive weeks of auto price gains and nine weeks of truck price gains, vehicle pricing is showing signs of stabilization, 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... READ MORE

Avoid Collateral Damage

April 26, 2010
When auto loans go bad, collateral-management tools help CUs pick up the pieces. In today’s tough economy, when many people are defaulting on car loans, you’d expect auto repossession agents to be rolling in clover. But they’ve also run into tough times. “Just when you’d think there... READ MORE

Car Wars

April 26, 2010
Rate competition becomes intense as auto makers unleash incentives. Focus •  CU auto loans as a percentage of total loans dropped from 39.4% in 1999 to 30.3% in 2009. •  Lenders that find ways to say “yes” to auto loan applications are garnering double-digit growth. •  Board... READ MORE

Housing Slump Doesn't Slow Down CUs

April 26, 2010
CUs set records in 2009 for mortgage originations and sales in the secondary market. Focus •  U.S. home sales dropped in first-quarter 2010, while CU mortgage originations continued to grow. •  CUs that don’t prepare now to grab mortgage market share might be missing a rare opportunity.... READ MORE

Loan Loss Strategies

April 26, 2010
CUs expect charge-offs and delinquencies to stay elevated through 2010. Earlier this year, the Credit Union National Association’s economists predicted slow organic loan growth for credit unions in 2010, and much higher than normal loan delinquencies and losses. Geography and local business activity can affect these trends. But... READ MORE

Fed Releases New Gift Card Rules

April 19, 2010
New Federal Reserve rules provide new protections when consumers purchase or use gift cards. Following are some key changes that apply to gift cards sold on or after August 22, 2010. Covered by the new rules are: Store gift cards , which can be used only at a particular store... READ MORE

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