Northwest Credit Union Association Board Reorganizes for 2015-2016

The evolved Board will guide the Association in its mission to help Northwest credit unions thrive.

Will Big Data Give Each of Us a Pop-Tarts Moment?

In this week’s Strategic Link business partner article, NCA Security & Technology Insight reports on big data collection and its potentially big benefits to consumers and the financial services providers trying to give those consumers what they really want.

NWCUF Board of Trustees Election Process Underway

Passionate about the People Helping People philosophy? Four seats are open on the Northwest Credit Union Foundation Board of Trustees. The board helps to manage the Foundation’s budget, direction and policy. Three seats are scheduled for election, and a fourth seat is available for appointment by the board.

picture of a notepad on a desk

NWCUF Election Process Underway, Declaration of Candidacy Forms Due May 24

Passionate about the People Helping People philosophy? Four seats are open on the Northwest Credit Union Foundation Board of Trustees. The board helps to manage the Foundation’s budget, direction and policy. Three seats are scheduled for election, and a fourth seat is available for appointment by the board.

CFPB Delays Remittance Transfer Rule Based on Feedback, but Some Damage Already Done

The CFPB agreed last week to delay implementation of the international remittance transfer rule and to address certain concerning elements, but the Federal Home Loan Bank of New York has already indicated that it will stop processing international wire transfers at year’s end.

Compliance Question of the Week

Can a credit union have a lending promotion where people living in a certain area (like close to a new branch) get a discount on their interest rate?

Credit Unions Earn Non-Interest Income for Offering Discounts to Members Through Sprint

Several credit unions received as much as $20,000 for participating in the Sprint Credit Union Member Discount Program in 2011, a program offered through Strategic Link, the NWCUA’s wholly-owned service corporation.

NWCUA 2012 Calendar of Events: Helping the Movement ‘Flourish’

The NWCUA has released the 2012 Events Calendar, offering opportunities for growth related to every facet of the credit union movement through networking, training and continued education.

Risk Based Pricing and Adverse Action Notice Changes Finalized

The Fed and FTC on Wednesday issued final rules to implement the credit score disclosure requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. If a credit score is used in setting material terms of credit or in taking adverse action, the statute requires creditors to disclose certain information to consumers.

Compliance Question of the Week

What is the difference between the FACT Act rules for risk based pricing notices published by the Federal Reserve board (12 CFR 222) and those by the Federal Trade Commission (16 CFR 640)?

Credit Scores to be Required on Adverse Action and Risk Based Pricing Notices

The proposed rules from the Fed and the FTC will come into effective on July 21, 2011, as part of the credit score disclosure requirements in the Dodd-Frank Act.