Deepen Member Relationships Profitably

Strategic Link strategic partner CUNA Mutual Group explains how offering the right protection products to the right members at the right time can help credit unions earn recurring non-interest income from satisfied members.

Consumer Financial Protection Bureau Proposes Two Major Mortgage Rules

The CFPB proposed two rules this week. The first is the culmination of more than a year’s worth of work testing and revising mortgage disclosure forms. The second expands the protections given members who enter into “high-cost” mortgage loans.

Is Your Disaster Plan Up to the Test?

Brad Mundine, senior manager of the Credit Union Protection Risk Management team for Strategic Link strategic partner CUNA Mutual Group, explains that when it comes to disaster planning, writing the plan is only the first step.

Risky Business: Mobile Devices at Work

Ken Otsuka, senior consultant for CUNA Mutual Group’s risk management team: “If your credit union allows mobile devices to be used for company business, you should understand and prepare for a number of potential risks.”

Consumer Financial Protection Bureau Turns its Attention to Elder Financial Abuse

The CFPB is hoping to learn more about the many ways in which older Americans are financially exploited and about the best practices for elder financial management.

Is Your Third-Party Overdraft Provider Putting Your Credit Union at Risk?

John M. Floyd, chairman and CEO of Strategic Link business partner JMFA, explains that credit unions must be mindful of how their overdraft program processes and fees affect members, especially in light of the CFPB’s efforts to protect consumers.

Legal Briefs

Your weekly update on the regulatory landscape.

Smartphone Lending Platform Improves Application Completion Rates and Payment Protection Sales

Strategic Link strategic partner CUNA Mutual Group launched the Smartphone Loan platform in June 2011. Pilot tests at two credit unions saw application completion rates jump by as much as 138 percent in two months.

CFPB Turns its Attention to Checking Accounts

The CFPB is no longer confining its attention to loans, as Wednesday, Feb. 22, marked the launch of the CFPB’s inquiry into checking accounts and overdraft protection programs.

New Disclosures to be Required in International Transfers

The CFPB recently adopted new protections for consumers who transfer money internationally, now requiring up-front disclosure of exchange rates and fees.

Three Investment Resolutions for the New Year

Catalyst Corporate Credit Union offers three simple strategies to help credit unions maximize investment returns in 2012.

President Obama to Use Recess Appointment to Install CFPB Director

The White House will install Richard Cordray as director of the CFPB after Congress failed to act on Cordray’s nomination, a move that NWCUA CEO John Annaloro described as “awakening a new beast” on the regulatory front.

CFPB Solicits Financial Industry Insider Informants

According to Richard Cordray, individuals with information on potential violations of federal consumer financial laws will now have “a direct line of communication” with the CFPB.

Legal Briefs

Your update on the regulatory landscape.

Q&A: Benefits of a Tracked Collateral Protection Program

Al Olson, Collateral Protection Staff Underwriting Specialist for CUNA Mutual Group, offers insight into the positive impact a tracked collateral protection insurance program can have on a credit union’s auto lending program.

Legal Briefs

Your update on the regulatory landscape.

Survey: Credit Unions Believe in Value of Credit Insurance and Debt Protection, Need to Better Communicate to Members

Rich Trace, CUNA Mutual Group’s Director of Product Management for Credit Insurance, says that cross-selling is a useful tool in educating members about valuable, under-utilized products such as credit insurance and debt protection.

Federal Appeals Court Decision Could Delay the Implementation of Several Dodd-Frank Wall Street Reform and Consumer Protection Act Regulations

An improperly conducted cost-benefit analysis could delay the implementation of several regulations.