LOUISVILLE, Ky.—One analyst contends that the CFPB is not trying to kill overdrafts, just curb their use—and that the resulting big threat to credit unions will come from Silicon Valley.
THE news
ATLANTA—Credit unions, more so than banks, are turning to tablets to drive deeper relationships and attract new accounts, according to one branch experience design firm that is offering some lessons in the correct and incorrect ways to leverage the technology.
NEW YORK.—A new report indicates that mobile payments are quickly changing how transactions are being conducted, and that the underbanked are playing a big role in the rapid adoption of the payments platform.
WASHINGTON—The Consumer Financial Protection Bureau and the Maryland Attorney General Thursday fined Wells Fargo $24 million and JPMorgan Chase $600,000 for an alleged illegal marketing-services-kickback scheme they participated in with Genuine Title, a now-defunct title company.
NEW YORK—There are seven mobile banking debit card management tools available that not only help FIs save money and prevent fraud, they drive adoption of the digital wallet, according to one new analysis.
WATERFORD CITY, N.D.—Hoping to bring about change in this state, including directing more oil tax revenue to local districts short of infrastructure funds to support the Dakotas oil boom, the CEO of Dakota West CU is now a member of the North Dakota House of Representatives.
RALEIGH, N.C.—President Obama is expected to recognize State Employees’ CU here for providing members with free FICO scores, a program the $29-billion credit union says is being well received by members.
MADISON, Wis.—As CUToday.info explores during 2015 how well CUs are building relationships with new members, CUNA Mutual Group’s chief economist, Steve Rick, said the latest data show credit unison are doing a good job of cross-selling new members.
SAN DIEGO—Apple Pay is generating greater interest in mobile payments among consumers, financial institutions and merchants, but don’t expect 2015 to be the year mobile wallets take off.
BALTIMORE—Securityplus FCU is one of the first CUs in the country to test facial recognition biometric software for member authentication, and it is launching the technology at the same time it introduces a sophisticated member service kiosk.