FASB proposes modifying effective date of CECL standard

In promising news for credit unions on the compliance front, the Financial Accounting Standards Board is proposing to modify the effective date of its Current Expected Credit Losses standard for non-public companies. If approved, this change will allow private banks and credit unions an extra year to get ready for the new rules. Technically, the […]

Treasury Dept. endorses data breach standard

A Fintech White Paper released Tuesday morning by the U.S. Dept of  the Treasury includes an endorsement of a national data breach notification standard and other measures to help “smaller institutions” improve cyberprotections. This gives credit unions and smaller financial organizations a more prominent ally in their corner. Read more here in  this fact sheet.

CUNA launches ‘Stop the Data Breaches’ MAP campaign

CUNA launched its latest Member Activation Program (MAP) Campaign this week, “Stop the Data Breaches,” focused on educating and activating members to call on members of Congress to enact data breach legislation. CUNA will be hosting a free, members-only Stop the Data Breaches webinar Tuesday, July 31 at 3 p.m. ET. “Credit unions know what a serious issue data […]

JMFA examines overdraft solutions in CUs

Cheryl Lawson, executive vice president, compliance review, for John M. Floyd & Associates looks at the important question, “Is your overdraft solution a disclosed service or a hidden fee?” In the Federal Reserve’s fifth annual Report on the Economic Well-Being of U.S. Households,  released in early May, the number of Americans who say they are managing […]

Navigating risks in the lending landscape

Jim Bullard, a risk management senior consultant for CUNA Mutual Group, says risk and lending go hand-in-hand. His column below details his perspective. While speaking at a recent credit union league conference, I was asked by an attendee, “Are we going to learn how to be risk-free?” I responded, “If our goal is a completely […]

LSCU/LEVERAGE welcomes new team members

The LSCU is excited to welcome Alisha Stair as its newest Member Relations Consultant within the Cooperative Initiatives team. Alisha will be primarily responsible for assisting, supporting and engaging Credit Unions throughout the state of Alabama. After attending Robert Morris University to obtain her Bachelor’s Degree in Business Administration with concentrations in Management and Marketing, […]