Overdraft Programs Present Big Risks for Credit Unions
Overdraft programs present big risks for credit unions Overdraft fee programs are shaping up to be a top risk for credit unions during 2022. Any credit union that maintains an overdraft protection (courtesy pay) program should be familiar with the current risk environment. This is especially critical if the credit union relies heavily on overdraft […]
Chip shortage could hit card issuers
Chip shortage could hit card issuers For months we’ve been hearing about chip shortages in relation to trucks and electronics. So far, the financial services industry has (mercifully) been relatively unaffected by the chip shortage. However, based on this article from FIS, the chip shortage could affect credit and debit cards that have, well, an EMV chip in them. […]
Does NCUA’s MERIT have . . . merit?
Does NCUA’s MERIT have . . . merit? In recent months NCUA has been talking about a new system of some kind that’s supposed to help with exams, but none of the descriptions I read really helped me understand the system’s purpose. So, I sat in on an NCUA webinar on the subject. Here are […]
ESG just comes natural to credit unions
ESG just comes natural to credit unions This September 1 article on Axios resonates with a few points I made at the recent roundtable the Association held regarding ESG—mainly that more workers are making employment decisions based “not just on salaries and benefits, but also social impact and their personal beliefs.” That is, many people want […]
A closer look at NCUA’s CECL phase-in
A closer look at NCUA’s CECL phase-in On June 24 the NCUA board approved a rule “to aid FICUs in adjusting to the new GAAP standards in a uniform manner and without disrupting their ability to serve their members.” The rule accomplishes a few things: Phases-in the day-one effects of the adoption of CECL for […]
Juneteenth 2021 Effect on Compliance Disclosures – Revisited
Juneteenth 2021 Effect on Compliance Disclosures – Revisited You may recall in my previous post about the new Juneteenth holiday’s effect on compliance disclosures, I stated we only had a guess about how the 2021 holiday would affect compliance disclosure since the holiday was established (Thursday June 17, 2021) so close to the first occurrence of […]
Data strategies for credit unions
Data strategies for credit unions We’ve all heard a lot about the importance and value of data in the 21st century. But many credit unions don’t know where to start, or how to go about creating business value out of their data. In this blog series (at least 5 blogs), I’d like to pose a […]
