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Data and insight from Callahan & Associates and industry suppliers.
Responding to the pandemic is helping this Evergreen State cooperative test its appetite for risk and its ability to adapt.
The new ACES Consumer platform from ARMCO automates audit and compliance processes while adding visibility and efficiency.
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Five can't-miss data points this week on CreditUnions.com.
A committee approach allows the Washington cooperative to manage to an appropriate risk level while being a champion for members’ financial well-being.
Properly vetting third-party collectors can ensure laws are followed and members are treated fairly.
A patchwork of varying requirements is emerging as a growing list of states create their own rules and regulations.
Consumer protections apply equally to in-house and outsourced collections teams, and training for compliance should be a priority.
Having a system in place helps effectively address causes and lowers the risk of reputational damage.
Enterprise-wide awareness at Heartland Credit Union helps the Illinois cooperative stay in step with regulatory rule-following.
ADA website demand letters and lawsuits leave the movement seeking regulatory relief through more regulation.
Five can't-miss data points featured this week on CreditUnions.com.
Who’s new to the ranking tables, which auditors are moving up the leader boards, and what does market share by region look like?
Any time a debt collector or a creditor communicates with a consumer on a debt, it is important to first review federal and state laws.
Analytics and technology are supporting a new wave of automated compliance and risk decisioning. Is your credit union ready to take the leap?
Trade lobbies and compliance consultants say it isn’t just regulations that seem frozen, and what follows the thaw?
Credit unions should consider moving from mere compliance checks to constant portfolio analysis. Here’s how to do that.
The NCUA wasn’t updating its questionnaires for internal compliance reviews fast enough. So the New Hampshire credit union created its own.
While the new administration and Congress could change the CFPB, the bureau’s rules remain in effect and should be the subject of careful compliance.
Stiff potential penalties underline the need to maintain and adhere to up-to-date compliance programs.
Day two at ACUC sees focus on polling, projects, the regulatory burden, and how to compete.
Risk managers monitor disparate areas of the credit union. For key ratios to follow, start with the measures that correspond to the risk indicators outlined by the NCUA.
From auditor to trusted adviser – traditional internal audit roles are taking a backseat when it comes to providing credit unions with relevant insights and valuable advice.
Improving processes and building relationships with regulators are two ways credit unions can ease compliance pain.
The growing role of credit union service organizations in providing scale and expertise has caused increased scrutiny from the industry regulator.
There is no one-size-fits-all approach when it comes to ensuring the safety of a credit union. That’s why leaders must understand the ins and outs of different strategies before selecting the best fit.
It's no secret the compliance burden on credit unions has increased in recent years. But exactly how much regulation has there been? And what are institutions doing to ease the burden?
Belvoir Federal Credit Union’s tech specialists have developed an automated escheatment system to swiftly clean up old accounts.
Credit unions and CUSOs share how they tackle the burden of compliance, contract management, and more when it comes to working with third-party providers.
This week, CreditUnions.com runs down some of our best and most actionable content from 2015. Use these programs and initiatives to provide a creative spark for 2016.
Innovative credit unions increase security and functionality and ratchet up the marketing to make their mark in mobile banking.
Eight strategies and lessons from credit unions show how to handle compliance and risk concerns.
What are common compliance pitfalls a credit union can fall into?
The fine print counts, so here are some common terms found in commercial loan documents spelled out in plain English.
Experiences in high-tech manufacturing, small business services, and the rodeo have prepared Kim Alexander, executive vice president and chief financial officer of Warren Federal Credit Union, for her role at a high-growth credit union.
Communication with real estate partners and with members will make disclosure changes less of a barrier to getting a home purchase closed.
A monthly collection of Callahan content that, together, addresses a single topic from a variety of perspectives.
Here’s a list of specific ways that credit unions can and cannot compensate their board volunteers.
Cost reductions, process efficiencies, and compliance comfort are some of the benefits of a holistic, vigorous new approach.
In this Q&A, Kristen E. Edmundson, vice president of audit and compliance at Purdue Federal Credit Union, shares her perspectives on pain points, best practices, and the future of vendor management.
Reducing compliance costs can save credit unions thousands of dollars annually and help smaller institutions remain independent.
An abundance of devices, each with their own respective compliance unknowns, has muddied the waters for many financial institutions. Here’s how to get clarity.
A try-before-you-buy fellowship program allows DCU to assess the value of new legal resources.
Configurations, cooperation can help IT security managers dodge “resume-producing moments".
CU InfoSecurity Conference speakers warn of thermostats, copiers, video cameras, and that old PC in the conference room.
After big fine on big bank, bureau’s blanket probe of credit union core processor NSF settings raises eyebrows and call for self-examination.
These four lawsuits can provide valuable lessons to the industry.
TILA/RESPA integrated disclosure is so much more than a disclosure regulation. Many believe it will be a bigger deal than the Qualified Mortgage rule from January 2014.
Six small credit unions have projected more than $200,000 in compliance costs savings over the next two years with their new CUSO — and they say that’s just the beginning.
Your risk management processes may be fine today, but are they sufficient to lead you tomorrow?
Credit unions reeling after the regulatory tsunami and uncertainty in the interest rate market might find comfort in the data, advice, and best practices featured this week on CreditUnions.com.
Wayne Hood, senior vice president and chief legal officer at ORNL Federal Credit Union, reflects on his leadership style, sources of inspiration, and the potential for some mutually beneficial alliances with banks.
Legal battle and years of uncertainty could follow a final rule like this.
This "fundamentally flawed" policy actually creates a capital problem.
This week, CreditUnions.com offers practices, lessons, and educational resources for the men and women charged with managing the financial risks of their credit unions — the CFOs.
Core processing pundits say Temenos will be a worthy competitor in the U.S. credit union market. The Swiss company just bought Akcelerant, a long-established provider of ancillary solutions to several hundred credit unions.
Callahan chairman Chip Filson argues against the revised risk-based capital proposal.
Callahan chairman Chip Filson and senior analyst Andrew Bolton explore the changes to NCUA's proposed risk-based capital rule.
College football game a sign of things to come? Some vendors jump in, others stay on sidelines as bitcoin usage grows.
IT security experts see attacks ranging from card breaches to HELOC account wire fraud in the year ahead. Some prevention tips are included.
The fact an examiner jeopardized sensitive data from $13.1 million Palm Springs FCU is appalling at so many levels.
Integrated mortgage disclosures top list of regulatory changes approved or under consideration in the year ahead.
Regulatory council offers recommendations after summer assessment of 500 community financial institutions.
Credit unions can focus on resolving member complaints to improve the member experience and avoid CFPB action.
Mobile banking, the regulatory burden, terror financing and even the interchange cap were fair game on opening day at Money 20/20.
It’s very easy to allow key requirements to fall through the cracks. Careful due diligence and competent legal representation are critical for a credit union to make its loan participations a success.
Coming compliance change would add new heft to “know your customer” rules for business, organizational accounts.
Data aggregation and a proactive culture are the two biggest tools a credit union has to safeguard itself from the risk of fair lending noncompliance.
Maximize your credit union’s social success while avoiding the compliance headache.
How many credit unions are merging and what does it all mean?
Compliance is the job of every area and every employee in the credit union.
The comment period on NCUA’s proposed risk-based capital requirement runs through May 28. Take inspiration from these credit union leaders when crafting a response.
New roles are helping credit unions review regulations and disseminate information.
The Creditunions.com team descended on CUNA's GAC this week, taking notes at lectures and breakout sessions for those of you who couldn't attend. Here are a few highlights from five days in credit union wonderland.
Compliance is on everyone’s mind in 2014, but credit unions are discovering ways to ease the burden and support one another.
Whether you rely on a singular hire, a multifaceted department, or shared talent, the days of squeaking by without dedicated compliance resource are over.
How Belvoir Credit Union leveraged its compliance investment to benefit the credit union industry.
Ongoing investments in processes, people, and technology ensure Heritage’s trip to the top
is a one-way ticket.
With a wealth of different options available, here’s what credit unions should really be looking for in a trusted partner.
How unfiltered communication strategies can help credit unions proactively address member and employee issues.
BECU talks about complying with CFPB consumer complaint expectations.
Avoid costly and time-consuming lawsuits by knowing the correct wording for standard business forms.
Credit unions can use change to engage with their members.
Boost your knowledge of historic precedents, upcoming legal decisions, and institutional best practices to better protect the cooperative.
Compliance is too expensive and too burdensome a task to go at alone.
Credit unions that build networks with to their peers can more easily tackle regulatory challenges.
The Ohio Credit Union League offers resources such as discussion groups and file-sharing libraries to ease the burden of complicated regulations.
Three CUSO executives explain how service organizations like theirs help credit unions stay on track amid ever-changing reform in the financial services industry.
Credit unions are collaborating with one another and building cooperative networks to tackle increasingly challenging regulatory issues.
Michael Martin of FedChoice Federal Credit Union discusses what issues his credit union is focusing on in 2013 and how regulation is playing an increasing role in credit union risk management.
Without investing capital yet, credit unions can understand the Consumer Financial Protection Bureau’s basic mortgage reform proposals.
Conduct quarterly internal audits to ensure your vendors are in compliance with regulations.
Centralized underwriting and diligent quality control ensures loan at Members 1st remain consistent with credit union standards and compliant with regulatory requirements.
The financial system is ripe for enhanced cooperation between leagues, CUSOs, credit unions, and talented individuals.
Australia’s oddly named bank switching legislation highlights a growing demand for easier swaps between financial institutions.
Some credit unions outsource compliance expertise while others invest in their own staff to manage growing regulatory pressures.
The financial industry is moving toward compliance with card-based chip and pin technology.
Rocky Mountain Credit Union's Holly Lane discusses how she manages today's complicated regulatory environment.
Mortgage lenders can brush up on the details of the Secure and Fair Enforcement for Mortgage Licensing Act.
Credit unions must consider ongoing options to manage this critical shift.
Best practices for reducing expenses, improving vendor performance, and achieving regulatory compliance.
By 2015, financial institutions' spending on cloud computing will have exceeded $27 billion. But what is cloud computing and how can credit unions begin to use it to their benefit today?
Credit unions could use a dividend payment from the over-reserved share insurance fund to improve their balance sheets, make more loans, and help members in need.
Balance reward and risk to manage your credit card portfolio.
Leverage the online channel.
California CUSO CURoots sprouted from diligence and cooperation to reduce back-office expenses for credit unions.
Five factors to help your credit union make the right data processing decision.
The 2010 Technology Survey indicates most credit unions are increasing their technology budgets depsite a challenging earnings environment and uncertainty around NCUA assessments.
The 2007 Electronic Payments Study takes a look at the emerging payments technology affecting the financial services industry and what lessons credit unions can learn from the big players.