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Posted: Jan 10, 2019
Categories: Debit Cards, EMV, Consulting
Comments: 0
Author: Lou Grilli

The Fed released its latest update on debit card interchange, and it showed very subtle but very telling trends for financial institutions with less than $10 billion in assets – a category called “exempt”, which includes all the credit unions in the U.S. except the top 7. While the lines of the graph (found here) look relatively horizontal, two takeaways are worth noting.

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Posted: Dec 13, 2018
Categories: Regulations, Consulting
Comments: 0

Trellance’s Compliance Corner, a thought leadership spotlight on topics relevant to compliance officers and credit union executives, has covered a lot of ground in 2018.

Back in January, we noted that Reg Z fees, which dictate the maximum a credit union can charge for penalty fees, such as late fees,  remained the same from 2017.

In March, we covered CECL, or Current Expected Credit Loss, a new accounting standard which will result in most credit unions increasing loan loss reserves by looking forward and predicting the potential for write-offs. This is an area where data analytics can help credit union executives make more accurate predictions, thus lowering the need for high reserves.

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Posted: Nov 14, 2018
Comments: 0

ThePaymentsReview compliance feature occasionally highlights regulatory topics important to credit unions

On October 17, 2018, Acting Director of the Bureau of Consumer Financial Protection (BCFP) (previously the Consumer Financial Protection Bureau - CFPB), Mick Mulvaney, announced at the Mortgage Bankers Association, that the Bureau has set out on an agenda to better define the term “Abusive” in the Unfair, Deceptive, and Abusive Acts or Practices (UDAAP).

 

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Posted: Nov 5, 2018
Comments: 0

Over 13M Americans (5.35%) have finished holiday shopping! Now for the good news – the other 95% of shoppers still have not completed!  However, another 18% anticipated being finished by November 1st.  Black Friday is no longer the perceived start to holiday shopping. If issuers are waiting until closer to Black Friday to begin promotions to entice cardholders to use their card products, they will be getting out of the gate late.  A full three weeks late.

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Posted: Nov 1, 2018
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Why Embracing Lifelong Learning Is The Best Gift You Can Give To Your Professional Self

[Editor’s Note: This article was previously published on CUInsight, and has been modified.]

During my recent presentation at Trellance’s Payments Academy, I spoke about the importance of embracing thought leadership in building a personal brand. I challenged the attendees to ask themselves, “What do I want to be known for?” This sparked a conversation among the presenters and attendees about what makes someone an expert. The consensus was that years of experience in your field is just one of the main ingredients in claiming expertise. The other essential component is the expert’s ability to remain relevant and knowledgeable on his/her area(s) of expertise in this ever-changing landscape.

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