Overdraft Protection Disclosures – Verify ‘Opt-In’ Compliance Now

Be in compliance with Regulation E. Your Strategic Link Partners, Foster Pepper PLLC provide insight.

Consumer Reports Praises Credit Unions for Excellent Service, Low Fees

93% of credit union members reported being “Highly Satisfied,” compared with 69% of customers from the four largest national banks.

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Big Banks Driving Millennials Away With Fees

Credit unions stand to gain Millennial members as the younger generation looks for alternatives to the higher fee structures of big banks. Credit unions can capitalize with low-fee, transparent products and services.

Must-Have Banking Experiences for Millennials

Online, mobile and fee-free: financial information company NerdWallet shares the must-haves that Millennials seek in their financial institutions.

Oregon Legislative Update: Prize-Linked Savings Scheduled for Senate Vote

If the bill passes the Senate, it will be sent to Governor Kate Brown to be signed into law.

Compliance Center: CUNA Mutual Group Risk Alert on Overdraft Fee Lawsuits

CMG warns bond policyholders on overdraft fee lawsuits, your questions answered on members

stopping payment on cashier’s checks, plus this week’s legal briefs.

CFPB Report on Small Debit Purchases and Overdraft Charges

The CFPB is concerned about how consumers will be impacted by opting in to overdraft services for one-time debit card and ATM transactions. Also in the Compliance Center: legal briefs and the question of the week.

Credit Union Movement Writes Huge Savings “Check” to Northwest Members

Credit union membership saved the Northwest’s 4.5 million members $280 million in the past year. The tangible savings story is a good one for credit unions to share with the public.

Appeals Court Overturns Merchant Challenge to Fed’s Interchange Cap Rule

A U.S. Court of Appeals overturned a lower-court ruling today that supported merchants’ arguments in the ongoing debate over the interchange fees financial institutions charge for accepting card-based transactions. The Fed’s cap on “swipe fees” is not too high, the court ruled.

Compliance Question of the Week

Can a federal credit union recoup waived settlement costs on a Member Business Loan?

Generating Non-Interest Income in a Highly Regulated Environment

Credit unions looking for ways to remain viable and competitive can no longer rely on conducting business as usual. As the opportunities to generate fees from traditional services are reduced, many are concerned with how to maintain a level of income that allows them to offer the services that keep them competitive. It’s a challenging balancing act at best.

CFPB Still has Concerns Regarding Credit Cards

The Consumer Financial Protection Bureau says the CARD Act has reduced penalty fees and made the cost of credit clearer for consumers. But the bureau says it is still concerned about add-on products, deferred-interest products, fee-harvester cards, and disclosures.

Left-Behind 401(k) Accounts: Here Are Two Common Mistakes to Avoid

If you have a 401(k) account still being administrated by a former employer, avoid two common—and potentially very costly—mistakes people make in this situation: cashing out the account early or ignoring the account.

Bluebird Prepayment Card Architect to Keynote Amplify Convention

One of the most influential women in payments will headline Amplify Convention in Portland in October. Laura Kelly is the architect of the Amex/Walmart Bluebird card. Need we say more?

What is Pin-Authenticated Visa Debit and How Does it Impact My Credit Union?

Strategic Link business partner CSCU invites you to learn about PAVD and its impact to your debit card portfolio.

U.S. District Court Delivers a Blow to Financial Institutions

A U.S. District court ruling strikes down the Federal Reserve’s price caps on debit interchange fees. The ruling could be devastating for some financial institutions. The NWCUA is working with CUNA to determine next steps.

CFPB Releases Initial Overdraft Study Results

The CFPB will continue to study overdraft programs before addressing any policy changes. But the Bureau has released the initial results of its 2012 inquiry. In our Strategic Link business partner feature this week, John M. Floyd, chairman and CEO of JMFA, shares perspective on the report.

Credit Union Checking is Still the Consumer’s Best Bet

Media reports this week spotlighted the increasing fees consumers are paying for NSF checks, however, a study shows credit unions impose such fees much less frequently than banks.