CFPB Proposes Minor Changes to the Ability-to-Repay Rule

The Consumer Financial Protection Bureau (CFPB) released proposed amendments to the ability-to-repay rule. Also in today’s Anthem: Legal Briefs, and the Question of the Week: “When advertising a loan product, if I want to disclose the APR, what else am I required to disclose?”

Tracked Collateral Protection Insurance Programs Can Help Protect Credit Unions’ Interests

Absorbing the full cost of auto loan write-offs caused by damaged or stolen uninsured vehicles usually isn’t a prudent option when a credit union’s bread and butter is its auto loan portfolio. But a “tracked” collateral protection insurance (CPI) program could help protect the credit union’s interest in the loan collateral.

Lower Valley Credit Union’s Suzy Fonseca: ‘Planting Seeds of Opportunity for a Better Tomorrow’

With 2013 in the rear-view mirror, Anthem asked Northwest credit union presidents and CEOs to reflect on the past, consider what lies ahead and talk about the challenges — and the opportunities — that await credit unions in 2014. Today: Suzy Fonseca, president and CEO of Lower Valley Credit Union, talks about what it means to “serve the underserved.”

Most Credit Union Products Not Subject to Unrelated Business Income Tax, IRS Memorandum Says

The Internal Revenue Service has issued a memorandum that clears nearly all credit union products from being subject to Unrelated Business Income Tax. Also in today’s Anthem: Legal Briefs, and the Question of the Week: “Can a credit union run a promotion in which everyone who applies for a car loan is entered to win a prize?”

News & Notes: Here’s What’s Happening Around the Northwest

Amy Nelson named president and CEO of Point West Credit Union; iQ Credit Union’s Roger Michaelis announces retirement date; Gesa Credit Union raises $13,811 for Junior Achievement of the Greater Tri-Cities; American Lake Credit Union partners with Sallie Mae to offer private education loans; Columbia Credit Union names Doug Davis its new vice president for lending sales; Matthew Cannizzaro joins Solarity Credit Union as vice president of branch operations.

‘Simplified’ Mortgage Disclosures Won’t Be a Simple Change for Credit Unions

Complying with the Consumer Financial Protection Bureau’s first six mortgage rules, which became effective in January, didn’t fundamentally change the mortgage process for members. Complying with the seventh new rule, however, will absolutely change the disclosures and mortgage process for your members.

Compliance Center: CFPB Releases Insight into Potential HMDA Charges

A fact sheet from the Consumer Financial Protection Bureau explains changes the bureau is considering to the Home Mortgage Disclosure Act. Also in today’s Anthem: Legal Briefs, and the Question of the Week: “How do we ID a minor when they are opening an account?”

Comply with NCUA Regulations and Still Grow a Loan Portfolio? Lending Insights Webcast will Explain How

Can a credit union successfully meet compliance standards and still experience loan portfolio growth in 2014? It’s absolutely possible, Lending Insights says, and the Strategic Link partner is hosting two webcasts to show how.

Putting Members in the Driver’s Seat, Part IV: It’s Easy Being Green

Kermit the Frog used to sing “It’s not easy being green.” But if you’re a car buyer in today’s market, automotive journalist John M. Vincent says in Part IV of “Putting Members in the Driver’s Seat,” it’s certainly easy to buy green — and it’s getting easier every day.

Putting Members in the Driver’s Seat, Part III: Auto Industry Brimming with New Models, Innovation

Like most of America, auto sales are emerging from a long slump. Now that the economy is climbing out of its deep hole and consumers have more confidence, they’re buying again. In Part III of “Putting Members in the Driver’s Seat,” automotive journalist John M. Vincent says carmakers hope to meet the pent-up demand with cars and trucks that are better, safer and more efficient than ever.

Qualstar Credit Union Thanks Members for a Great Year with $2.2 Million ‘Loyalty Bonus’

For the second consecutive year, Qualstar Credit Union is thanking its members for a successful year of strong growth and increased income with Loyalty Bonuses that will total $2.2 million. Letters announcing the bonuses will begin arriving in mailboxes today, and money will be deposited into accounts starting on Jan. 29.

Putting Members in the Driver’s Seat: Northwest Credit Unions and Winter Auto Shows are a Perfect Match

“Putting Members in the Driver’s Seat” is a special package of stories and photos that credit unions can use to entertain and educate their members during this key car-buying season. The package, by John M. Vincent, a nationally-recognized automotive journalist and longtime Northwest credit union board member, is available for download now!

Doug Page Takes the Helm as President/CEO of Great NorthWest Federal Credit Union

Doug Page became president and CEO of Great NorthWest Federal Credit Union on Jan. 1. Last week, he sat down with Anthem to reflect on his nearly 20 years at Great NorthWest and talk about what he sees in the credit union’s future.

Credit Union Member Discount from GM Now Bigger, Simpler, Better

Credit union members can now save even more on most Chevrolet, Buick and GMC vehicles with the Credit Union Member Discount from GM and CU Solutions Group.

Compliance Question of the Week

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

CFPB Releases Final TILA-RESPA Combined Disclosure Rule

The Consumer Financial Protection Bureau has released its long-awaited final rule for Integrated Mortgage Disclosures under RESPA and TILA.

The Financial Check-in: Get Personal with Your Lending Marketing

Personal, one-on-one service is a cornerstone of the credit union brand, but not enough credit unions extend the personal touch into their lending marketing. One great tool for establishing a direct link is the “financial check-in.”

Free Auto Club Memberships Help Drive Loan Traffic to Peninsula Credit Union

Peninsula Credit Union has seen a big increase in auto-loan traffic after dropping rates and offering car buyers a free one-year membership in the Credit Union Auto Club.