CO-OP to sponsor Filene initiative to keep credit unions at forefront of fintech

CO-OP Financial Services and Filene Research Institute announced yesterday an initiative to launch the next Filene Center of Excellence — the Center for Emerging Technology — to provide research and education to credit unions on financial technology. The Center for Emerging Technology will formally launch later this year and will produce three major research studies and host one academic […]

Britain’s divorce from the EU causes global financial turmoil

The most prevalent topic in financial news today is Brexit and its effect on economic conditions world wide. The surprising vote to leave the European Union has left many flummoxed, but CUNA economists expect credit unions to be safe from serious financial repercussions. According to CUNA economists, “Our outlook for credit union financial operations is […]

Fed continues cautious approach while awaiting economic developments

Federal Reserve Chair Janet Yellen spoke before the Senate Banking Committee yesterday, a twice yearly occurrence, saying the U.S. hiring slowdown warrants a cautious approach to raising interest rates, according to wire service Reuters. Key factors in whether those rates will change hinge on whether the U.S. economic recovery continues and might be influenced by […]

House Appropriations Committee to review new bill and accompanying report

Today, the House Appropriations Committee will mark up the Financial Services and General Government Appropriations bill. The report to accompany the bill was released yesterday, and it includes several statements advancing credit unions’ concerns. The LSCU’s advocacy team worked diligently with Congressman Ander Crenshaw’s (R-Florida) staff to ensure that credit unions’ concerns were addressed in […]

Blockchain has potential to be technology of the future

With the ever-changing face of technology, one never knows just what will be the next big thing for the financial world. Credit unions should keep blockchain on their radar, says a CUNA blogger, who points out emphatically that this is not Bitcoin, the virtual currency that became infamous for a time. The article explains that […]

CFPB releases lengthy proposal to limit small dollar loans

The CFPB released its new proposed rule on payday and small dollar loans at a field hearing in Kansas City, MO. In a nutshell, the CFPB proposal is complicated, as suggested by the 1,549-page document that aims to limit high-interest loans by predatory lenders. LSCU has learned from NCUA sources that the rule contains two […]