Fifteen States File Amicus Brief Supporting Challenge to Oregon’s DIDMCA Opt-out Law
By Alan S. Kaplinsky & Burt M. Rublin, Ballard Spahr/Consumer Finance Monitor
Yesterday, the State of Utah, joined by the attorneys general of AL, AR, FL, GA, IA, LA, MS, MT, NE, OK, SC, SD, TX, and WV, filed an amicus brief in support of the plaintiffs’ motion for a preliminary injunction in the pending challenge to Oregon House Bill 4116.
The lawsuit, brought by the National Association of Industrial Bankers, the Online Lenders Alliance, and the American Financial Services Association, contends that HB 4116 is preempted by Section 521 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (“DIDMCA”)…
Read MoreHow Banking Beyond Bars Rebuilds Credit, And Lives, After Prison
Published by America’s Credit Unions Blog
Ask Scott Prior what his Banking Beyond Bars program looks like when it works, and he describes a scene he has watched play out more than once: A graduate of Connection Credit Union ‘s reentry-into-society-from-incarceration program walks onto a car lot, and the salesperson runs his credit and offers to finance the purchase on the spot.
The graduate’s score has climbed near 700, high enough to qualify almost anywhere, but he turns the offer down. He will be buying through financing from his credit union, he says, because it gave him a chance when no one else would…
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Trial And Error Helps Everwise Turn Hard Lessons into Smarter Ventures
Marc Rapport, CreditUnions.com
A dedicated ventures arm brings structure, discipline, and long-term value to the credit union’s fintech investment strategy.
After years of mixed results in fintech investing, Everwise Credit Union ($5.7B, South Bend, IN) has created a dedicated ventures arm to bring greater discipline, focus, and long-term value to innovation. Like many credit unions, Everwise spent years experimenting with CUSOs, fintech investments, and collaborative ventures. Some paid off. Others didn’t…
Read MoreRetiring CEO Shares What it Really Takes to be an Effective Leader
Frank Diekmann, CUDaily
To be a really effective leader, a CEO must surround him or herself with an excellent management team and recognize that he or she cannot do everything, according to David B. Suvall, who is sharing his insights as part of a CU Daily series on retiring leaders.
Suvall has retired from Rhode Island Credit Union after 45 years of service. The $427-million RICU has selected current Executive Vice President/COO Nancy L. Zeppa to lead the organization. Suvall joined the credit union in 1981 as the VP/controller and became president/CEO in 2006…
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