LAKE FOREST, Ill.—An early analysis of what call reports are likely to show this year when it comes to overdraft revenue indicates credit unions should be prepared for increased scrutiny and criticism from legislators, the media, consumer groups and, of course, the banking industry.
DETROIT—Labor unions may be making a comeback across the country as some reports have stated, and one of the targets of their efforts is credit unions, according to one labor relations attorney, who explained that whether workers are considering union representation or not, all organizations need to focus on listening better to their employees.
MADISON, Wis.—Should credit unions be using AI to conduct focus group research? One expert says that’s a good use for the tool.
PLANO, Texas—Credit unions should not be overly aggressive with loan growth this year, according to one economist, who is warning doing so could lead the industry back to another liquidity crisis.
BIRMINGHAM, Ala.—The CFPB’s new overdraft rule will increase the pace of credit union mergers, predicts Dennis Dollar, who is advising credit unions to examine field of membership options to combat an expected decline in revenue.
LAKE FOREST, Ill.—The battle for six-month CD money making some big news, and one expert is urging credit unions to recognize deposits are now much more than just a cost center.
PETERBOROUGH, N.H.—The $30-billion settlement between Visa and Mastercard and a group of U.S. retailers is just another “jab” to the face of issuers, especially smaller ones, according to Tim Kolk, who said he doesn’t see any “plus signs” in the card space these days.
WASHINGTON—Even though a district court recently invalidated the Corporate Transparency Act (CTA)—a decision that is being appealed—credit unions should not be deterred in learning how to access the FinCEN beneficial ownership database the agency is assembling, says one attorney, and then take steps to gain that access.
CHARLESTON, W.V.—Before Linda Bodie forged her career in credit unions, the CEO of Element FCU had hoped to make a difference in people’s lives through politics. Now, after making a difference within CUs for more than 30 years, Bodie is resurrecting the dream she had when she was in her 20s.
LAKE FOREST, Ill.— While the U.S. money supply in recent years has appeared to be stable, one economist says that’s not the case, adding that money supply components have been moving as wildly as a theme park ride and affecting deposits at FIs across the country.
