WASHINGTON—New guidance from the CFPB related to “junk fees” may not be “rules,” but they are going to have an affect on credit unions, including driving more regulator—and plaintiffs’ attorneys’—attention to fees other than overdrafts, such as those for returned deposits, according to one attorney.
DALLAS—One of the biggest concerns credit unions have had around offering cryptocurrency has been “reputation risk,” that their names and brands would be tarnished by association in the event of negative crypto news. Now that one of the biggest exchanges has failed, just how realistic have those fears proven to be?
LOMARD, Ill.—Believing a recession is inevitable, one economist says if credit union lending begins to soften, home equity loans may be able to bolster a lot of portfolios, especially if those loans are structured correctly, according to one person.
CHICAGO—An old-fashioned sounding law—the Telephone Consumer Protection Act (TCPA)—has some new-fashioned implications that credit unions need to be giving attention to avoid potential litigation, according to one attorney.
BIRMINGHAM, Ala.—’Tis the Season for highly competitive payments competition, and credit unions are going to need attractive offers to keep their credit cards top of wallet and bring in new business, according to one expert.
IRVINE, Calif.—Is entering the buy now, pay later (BNPL) space a good move for credit unions?
DALLAS—One small credit union says a non-custodial wallet may be the best option for a smaller CU seeking to enter the crypto space.
LAKE FOREST, Ill.—With almost every financial service fee being challenged in some way, overall fee revenue is falling per checking account, a new report reveals, but there are steps credit unions can take in response.
By Ray Birch
LAKE TAPPS, Wash.—Is the liquidity crunch that's hitting the balance sheets of many credit unions also now getting in the way of CU purchases of banks and slowing those deals? Two experts have two different views on that question.
MICHIGAN CITY, Ind.–Credit unions across the country this week have both jumped on the Black Friday shopping cart with special offers of their own, while also warning members about the risks from decisions that can turn into financial turkeys during one of the busiest shopping periods of the year from Black Friday to Cyber Monday.
