Holiday sales on track to hit highest rate since 2005

Estimates from research firms studying the retail market indicate sales growth during the holidays in 2016 may be the best since 2005. That’s according to the Wall Street Journal, which reported: “American consumers are once again proving many of the pundits wrong, as shoppers flock both to websites and to stores — and not just […]

Future of CFPB director in question with change of administration

Richard Cordray, the head of the Consumer Financial Protection Bureau, faces a barrage of criticism as Republican President-elect Donald Trump prepares to take office and is predicted to change the structure of the organization that was established in the wake of the 2010 Dodd-Frank Act. A recent article in The Wall Street Journal says Cordray […]

Credit card late payments grow with more lending to subprime cardholders

TransUnion released a report indicating that credit card delinquencies are rising due to more lending to subprime borrowers in recent years. The data also predicts even more borrowers will be late on their payments next year, due to rising interest rates. CU Today says, “The rise in late payments is not alarming, remaining well below […]

Credit union perspective garners attention in AL.com Op-Ed

Bankers have been outraged about changes in credit union field of membership (FOM) guidelines, which have been expanded to offer more people the opportunity to enjoy the advantages of credit union membership. Steve Swofford, president of Alabama Credit Union and immediate past chairman of the LSCU, spoke out from the credit union perspective in an […]

A year in review: Credit union accomplishments in 2016

As we approach the end of the year, it is always a good time to reflect on the many great accomplishments made throughout 2016. I’m positive that 10 years from now, when we all look at this past year, we still will be shocked at how it all played out. None of us likely thought […]

Data breach trends, 2017 predictions, and EMV updates

2016 Data Breach Trends 87 percent of breaches were at businesses with five or fewer locations Gift card fraud continues to be on the rise – 31 percent of the consumers purchase gift cards from gift card malls or kiosks (typically found in grocery/convenience stores). 2016 experienced less of the big breaches such as Targets/Home […]