SCOTTSDALE, Ariz.—A new study that reveals nearly 50% of credit unions have no plans to introduce buy now, pay later (BNPL) financing is a concern, according to one analyst, who contends CUs not only risk falling further behind banks in perceptions of service, but also slowing member growth.
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WASHINGTON—The Supreme Court decision turning back the 40-year precedent known as the Chevron doctrine has led to enormous uncertainty over its implications, with one lawyer not ruling out bank challenges to portions of the Federal Credit Union Act, including around some fundamental issues.
PETERBOROUGH, N.H.—Visa’s “one-card concept” is being overlooked when it comes to payments innovation, so much so that in the future it will likely be viewed as being as pivotal as the addition of chips to plastic cards, one payments expert is saying.
DALLAS—With the market, the media and the CFPB putting pressure on credit unions to eliminate or lower overdraft fees, credit unions will likely have to adjust their business model and raise lending rates, according to one balance sheet expert.
BOSTON–The reason change often doesn’t occur inside organizations is the same reason products and services don’t sell as expected—because people simply can’t see the world through someone else’s eyes, according to one expert. A Filene Center of Excellence has set out to help change that.
DETROIT—As banks gain scale and move up the “food chain,” they are leaving behind small business customers that credit unions, in turn, have been capturing—doing so in many cases by first buying a bank, according to one analyst.
MADISON, Wis.—GPT—or generative pre-trained transformer—tools may be the most useful forms of artificial for credit unions to use today, contends one expert, who has outlined several credit union use cases for the technology—but also several challenges.
BATON ROUGE, La.–One credit union that’s using artificial intelligence-based chat to assist staff says trust is the key to getting the tool used and accepted by employees.
DES MOINES, Iowa—More than 10 years ago Affinity Credit Union member James Reasoner found himself in deep financial trouble, with many more bills at the end of the month than money. He was facing struggles and needed to turn his life around. So, Reasoner reached out to Affinity for help.
CINCINNATI—A big increase in consumers seeking to turn in their leases early is a good sign for the future of leasing—but also a signal to lenders that they’ll face greater competition from automakers for lending dollars, says one expert.