In Other News

Crypto: a SWOT Analysis for Credit Unions

Late last month, the Filene Research Institute published a report on “The Path Forward for Crypto: What Credit Unions Need to Know“. Cryptocurrencies offer innovative possibilities but also pose many...

Members Only: NASCUS Posts Summaries on NCUA LTCUs and Risk Alerts

Letter to Credit Unions 22-CU-06: NCUA to Begin Phase 2 of Resuming Onsite Operations April 2022 Based on new guidance from the Centers for Disease Control and Prevention (CDC) and...

OPINION: What if Overdrafts Are Eliminated?

Courtesy of Moebs $ervices, moebs.com The result would be: 678.2 Million debit cards purchases of gas, groceries, dentist, etc., would be declined. 60 Million Americans’ ACH payments returned NSF for...

In the News: Former CEO Wants Members To Vote ‘No’

Courtesy of Ray Birch, CUToday.info The group opposing the merger of the $1.088-billion Vermont State Employees Credit Union—including its former CEO–with $1.94-billion New England FCU remains committed to blocking the...

OPINION: Why Multi-Factor Authentication Isn’t as Secure as Financial Institutions Think

Courtesy of Matthew Gracey-McMinn, Payments Journal “We would like to text or call you with a code.” That familiar phrase usually means multi-factor authentication (MFA) is in play. It’s an...

NCUA’s New Guide Simplifies, Clarifies Federal Credit Union Charter Application Process

The National Credit Union Administration released its new Charter Application Guide and other resources today to assist people who want to bring federally insured financial services to their communities by...

NCUA Board Member Rodney E. Hood’s Remarks at the Emerging Markets Coalition

Regulation is vitally important for the safety, soundness, and integrity of the financial system, and to ensure consumer protection and public confidence. Regulatory reform is perfectly consonant with those goals;...

Learn how to “Spot the Bot”

Last week the Cybersecurity and Infrastructure Security Agency published a quick guide on ID-ing Social Media Bots; automated programs that simulate human engagement on social media platforms. Social Media Bots use...

Do All Financial Institutions Have A Role To Play In Combating Climate Change?

Courtesy of Henry Meier, Esq., SVP, General Counsel, New York Credit Union Association Of course they do, but that’s not the appropriate question that regulators should be asking themselves. The...

FFIEC Releases 2021 Annual Report

The Federal Financial Institutions Examination Council (FFIEC) released its 2021 Annual Report this week. Click here to read the full report.  Introductory Message from FFIEC Chairman Todd Harper I am...

NASCUS Summary on Recent NCUA Risk Alert – Heightened Risk of Social Engineering and Phishing Attacks

The on-going conflict in Ukraine has raised concerns about potential cyberattacks in the U.S., including those against the financial services sector. All credit unions and vendors, regardless of size, are...

Overdraft Fees Are Out, Interchange Fees Are In

From CU Times: The answer to how credit unions can replace lost overdraft fee revenue lies in their card programs Some of the biggest players in financial services are eliminating...