Regulators launch review of 2009 overdraft rule

By Cheryl Lawson, EVP Compliance Review, John M. Floyd & Associates As a requirement of the Regulatory Flexibility Act (RFA), the Consumer Financial Protection Bureau (CFPB) recently announced its intent to review the 2009 overdraft rule. This rule requires consumers to affirmatively consent — or “opt in” — to overdraft services before a financial institution […]

Discovery Conference 2019 registration is now open

The virtual Discovery Conference by CUNA Mutual Group is back and better than ever – loaded with insights for league staff and credit unions, and conveniently available at your fingertips. The online event is scheduled for Aug. 15. This year’s event theme is “Know More. Grow More,” and the conference is packed with fabulous speakers and […]

Does Your Overdraft Strategy Command a 5-Star Rating?

By Mark Roe National Sales Director John M. Floyd & Associates  Now more than ever, ratings, likes and social recommendations play a major role in the process of selecting the products and services consumers use every day. When it relates to maintaining one’s financial well-being, reliability, transparency, fair pricing and pleasant service experiences are key […]

NCUA questions on CECL readiness

Though changes in the accounting and reporting of credit risk have been anticipated for years, with the time drawing closer, it’s time to take a close look at readiness.  NCUA has previously said assessing a credit union’s preparedness for the current expected credit loss (CECL) is a supervisory priority in 2019. Now an AIRES examination […]

Equifax data on auto lending sees increases in accounts, balances

New reports from Equifax on auto financing pointed to $41.3 billion in auto loans originated year-to-date. That denotes a 0.8 percent increase in accounts and a 2.8 percent increase in balances over this time last year. According to an article in Subprime Auto Finance News, “Analysts tabulated that 379,100 auto loans have been originated year-to-date […]