Compliance

No Respite From RESPA

October 23, 2009
Nichole Seabron Take a proactive approach to consumer-friendly RESPA amendments. The Department of Housing and Urban Development (HUD), the agency that administers the Real Estate Settlement Procedures Act (RESPA), issued a final rule amending RESPA requirements. Changes become effective on Jan. 1, 2010. RESPA makes certain lenders provide disclosures to... READ MORE

Senior Scams

October 23, 2009
Seniors get fleeced out of billions of dollars every year—and most of it goes unreported. READ MORE

Interchange Fight: Less Visible, No Less Intense

October 23, 2009
Mark Wolff Both sides have powerful and committed constituencies. In Washington, it’s sometimes said that health-care reform is “sucking all the oxygen out of the room.” That suggests all other domestic issues are being shunted aside, which is not the case. Less visible, though still intense, political battles are raging... READ MORE

Foiling a Scam

October 23, 2009
Steve Rodgers Alert CU staff thought something was wrong, and it was. Bank of America didn’t catch it. Citibank didn’t catch it. Neither did Wells Fargo. As employees at those banks were busy processing withdrawals, Joe Gonzales was busy draining 82-year-old Jack Whittaker’s accounts. In little more than a year,... READ MORE

Conference Demystifies Fraud, Compliance Issues

October 15, 2009
The CUNA Supervisory Committee and Internal Audit Conference , scheduled for Dec. 6-9 in Las Vegas, will cover hot topics including mortgage market fraud, compliance issues, and identity theft. At the conference, E. Michael Thomas, executive in charge of Crowe Horwath LLP, will present "Mortgage Market Fraud and Its New... READ MORE

Turn Regulatory Lemons into Lending Lemonade

September 25, 2009
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

Compliance Q&A: Servicemembers Civil Relief Act

September 25, 2009
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

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

Community Conference Is for All CUs

September 23, 2009
CUNA’s Community Credit Union &Growth Conference isn’t just for community credit unions. It’s for every credit union looking to capture membership potential. The conference, Oct. 21-24 in Las Vegas, will explore a diverse range of topics, including: • Community credit union best practices; • Reaching out to Hispanics; • Targeting generation Y; • Financial... 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

The Works Blog The Works Blog is produced by PolicyWorks LLC, Des Moines, Iowa.

Navigating the Muddy Waters of Flood Insurance Reform

One of the things PolicyWorks continues to assist our credit union clients with is wading through the deep waters of mortgage regulation. As CFPB Director Richard Cordray has acknowledged, many of the business practices implemented by the January 2014 mortgage rules have long been standards credit unions have adhered to. However, a tidal wave of […]

How to Write an Effective #CommentLetter

One of my favorite things about being a part of the credit union movement is the cooperative spirit; how everyone has a voice and a chance to be heard.  A great example of this is the comment letter – whenever an agency (such as NCUA, NACHA, CFPB, etc.) issues a proposed rule, they open the […]

Prepaid Cards and the CFPB

There has been a lot of chatter lately by the CFPB about prepaid cards and payroll cards (which are generally a form of a reloadable prepaid card used by an employer). We should expect a lot more chatter by “late spring” when the CFPB issues proposed rules. The CFPB issued two versions of model forms in […]
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Great article! Unfortunately, most employees don’t feel valued or appreciated by their supervisors or employers. In fact, research has shown that the predominant reason team members quit their jobs is because they don’t feel valued. This is in spite of the fact that employee recognition programs have proliferated in the workplace – over 90% of all organizations in the U.S. has some form of employee recognition activities in place. But most employee recognition programs are viewed with skepticism and cynicism – because they aren’t viewed as being genuine in their communication of appreciation. Getting the “employee of the month” award, receiving a certificate of recognition, or a “Way to go, team!” email just don’t get the job done. How do you communicate authentic appreciation? We have found people have different ways that they want to be shown appreciation, and if you don’t communicate in the language of appreciation important to them, you essentially “miss the mark”. Additionally, employees need to receive recognition more than once a year at their performance review. Otherwise, they view the praise as “going through the motions”. A third component of authentic appreciation is that the communication has to be about them personally – not the department, not their group, but something they did. Finally, they have to believe that you mean what you say. How you treat them has to match the words you use. If you are not sure how your team members want to be shown appreciation, the Motivating By Appreciation Inventory (www.appreciationatwork.com/assess) will identify the language of appreciation and specific actions preferred by each employee. You then can create a group profile for your team, so everyone knows how to encourage one another. Remember, employees want to know that they are valued for what they contribute to the success of the organization. And communicating authentic appreciation in the ways they desire it can make the difference between keeping your quality team members or having a negative work environment that everyone wants to leave. Paul White, Ph.D., is the co-author of The 5 Languages of Appreciation in the Workplace with Dr. Gary Chapman.

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