Also: Do registered MLOs have to renew their registration this year?
Financial information firm NerdWallet shares which fintech trends credit unions should be embracing in 2015.
Repo Remarketing Inc. will partner with Vendor Transparency Solutions to provide an online compliance-monitoring portal for its nationwide recovery and remarketing services, the company has announced, saying the VTS platform will help mitigate losses and decrease risks for credit unions and their members.
The Consumer Financial Protection Bureau has published its Examination Procedures for Remittance Transfers, which go into effect on Oct. 28. The CFPB only has direct examination oversight for financial institutions with more than $10 Billion in assets, but other regulators may look to these procedures when performing their own examinations.
Listening to what credit unions want is the key to providing the best partner services. Strategic Link business partner CUNA Strategic Services is profiled this week.
The Consumer Financial Protection Bureau’s final remittance transfer rule takes effect October 28. The rule was delayed for eight months after credit unions requested more weigh in with the regulator. The NWCUA and Northwest credit unions did offer comments and while some relief was granted, the outcome isn’t all credit unions hoped for.
The CFPB has released a small-business compliance guide highlighting issues that businesses—especially small businesses and those that work with them—should consider while implementing the new remittance transfer requirements.
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.
More than 100 industry providers will be on hand to showcase their products and services during the trade show at the 2011 NWCUA Convention and Annual Business Meeting.
The Northwest Credit Union Association pushes regulatory agencies as onslaught of new rules impact credit unions and consumers.