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NCUA's New Risk-Based Capital Proposal
The Consumer Financial Protection Bureau (CFPB) yesterday proposed revisions to its international money transfer rule. The revisions are intended to preserve the rule’s new consumer protections while providing federally insured institutions, such as banks and credit unions, with additional time to provide exact disclosures in certain cases.
Feeling more confident, consumers seem to be loosening their purse strings and borrowing more. Consumer borrowing climbed $16.5 billion in February, up from a $13.5 billion gain in January, according to the Federal Reserve. And the $18.9 billion increase in borrowing in the category that covers autos and student loans was reportedly the biggest one-month gain since February 2013.
The collision of economics, demographics, and longevity is raising credit union member concerns on income sustainability during retirement, according to Hendrix Niemann, managing director of wealth management for CUNA Brokerage Services, Inc. (CBSI).
Social media is reinventing how business is done, and while many financial institutions are now using social media, Wendy Bryant-Beswick, chief marketing officer for Generations FCU, is concerned that they might be doing so without a strategy. Bryant-Beswick is a breakout session presenter at the Cornerstone Credit Union League’s Southwest Lending Conference May 14-15 in Austin, Texas.
Credit unions providing a 401(k) program to 100 employees or more can save money and streamline their administrative tasks by joining the Credit Union Retirement Plan Association 401(k) Plan, a new multiple employer plan (MEP), administered by CUNA Mutual Group.
Marcus Cotton, a professional who brings with him extensive expertise in executive recruiting, project management, and career enhancement, has been hired to refocus the executive recruiting efforts of Credit Union Resources, a wholly-owned subsidiary of the Cornerstone Credit Union League.
The votes have been tallied and a winner has been selected in the Cornerstone Credit Union Foundation’s BizKid$ Entrepreneur Contest. According to Foundation Executive Director Courtney Moran, Beacon FCU and its partnering school, Hamshire-Fannett Middle School, won for their “Yum Yum Shop” school-sponsored concession stand.
Payment history, amounts owed, length of credit history, new credit, and types of credit in use are the five biggest things that affect your credit score, unfortunately, many consumers simply do not understand how their credit score impacts their ability to obtain affordable credit.
The Central Liquidity Facility’s financial performance showed overall positive trends in the first quarter of 2014, and its stock dividend rate increased to 0.25 percent, the National Credit Union Administration reports.
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