When asked which political party tends to ally itself with the credit industry, Patrick La Pine, the president and CEO of the League of Southern Credit Unions, stated that both major parties have warmly received the industry. Having worked with individual lawmakers, the credit industry has received support in regards to Member Business Lending (MBL)... read more
Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB), told lawmakers at a House Financial Services committee hearing this week that the CFPB will likely change the CARD Act to allow credit cards to be given to qualified non-working spouses in their own name. The bureau hopes to introduce the rule to lawmakers before... read more
Hurricane Isaac: NCUA Offers Protection With Disaster Relief Policy Considering the current state of consumers affected by Hurricane Isaac, the National Credit Union Administration (NCUA) is preparing with quick alterations on policies, activating the Disaster Relief Policy. The NCUA is lending a helping hand to its members by reminding them that their deposits will remain... read more
Small Digital Screens: Credit Unions Technologically Advancing Credit union branches are making innovative additions by installing small digital, Internet-connected flat screens for optimal member experience inside branch buildings. In today’s society, we are attracted by technological perks, rather than paper brochures. Credit unions are aware of the soon-shall-be obsolete brochure and quickly adopting this new... read more
Credit unions not only offer the beneficial perks of practically little to no fees, low APRs and membership involvement, but they teach you how to be smart with your money. If you’re not the brightest bulb in the building as far as financial savviness is concerned, don’t sweat it. Today’s world is financially threatened by... read more
The National Credit Union Administration (NCUA) submitted analyzed data stating that the first quarter of 2012 showed significant improvements for credit unions. NCUA Board Chairman Debbie Matz stated, “The credit union industry reached important milestones in late March.” This is because credit union assets topped $1 trillion, thus allowing credit unions to supply loans to... read more
Banks Under Fire by the FDIC More than a 100 complaints from depositors have flooded the offices of the Federal Deposit Insurance Corporation (FDIC) as callers protest being charged for fees issued by banks. The banks are charging customers alleged “FDIC fees” for deposit insurance assessments. According to the Credit Union Times, the FDIC has... read more
The Better Business Bureau (BBB) recently stated that opening a Christmas Club account this year with your credit union can help prevent financial debt during the holidays. They advise that a Christmas Club account is a good way to start saving money so that you can enjoy the holidays with gifts, celebrations, and any other... read more
Credit Unions Are Keeping It Cool Recent reports show that members of credit unions are benefiting from having chosen to be a member of a credit union rather than being a customer of a financial banking institution. A surge in positive outlooks has made credit unions more popular. Reports include an increase in loan approvals... read more
Banks Are On the Losing End Banks with unsatisfied customers are now becoming a trend. A Javelin Strategy and Research report stated that banks like Wells Fargo, Chase and Bank of America are at high risk of losing customers. In March 2012, 11 percent of people surveyed rated the likeliness of transferring their funds to... read more
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