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Posted: Jan 10, 2018
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ThePaymentsReview introduces a new feature, which will occasionally highlight regulatory topics important to credit unions.

[Editor's Note: This article was previously published on CU Insight, and has been modified.] 

Credit unions typically incorporate minimal fees, deriving most of their non-interest income from interchange on credit and debit portfolios. As the income from interchange declines, some credit unions look to fees to replace that revenue. What fees can be charged is, in part, limited by “Reg Z”.

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Posted: Nov 9, 2017
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A recent CNN Money article, Millennials Aren’t Opening Credit Cards. That’s a Mistake, caught my eye.   While the article does talk about the benefits for Millennials to open a credit card such as building a credit score, earning rewards, and fraud protection, it also mentions that the Card Act made it harder for Millennials to open credit cards.  The Card Act didn’t make it harder for Millennials (or other generations) to open credit cards, issuers did by their interpretation of the Card Act requirement of “proof of ability to pay”. 

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Posted: Jul 13, 2017
Categories: Regulations, Consulting
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Author: Lou Grilli

Thanks to recent NCUA changes to open up and simplify member business lending.

In Callahan & Associates’ most recent credit union Trendwatch, record high loan originations was one of the highlights of the growth of credit unions’ portfolios, placing the total loan portfolio held by credit unions in the U.S. at close to $900 billion. While auto loans led the growth in percentage terms at 16.8%, a surprising category emerged in second place at 15.5% growth – Member Business Loans (MBL). The driver of this come-from-behind category of lending is the recent changes made by the NCUA to open up and simplify member business lending. While some credit unions have jumped on the opportunity created by the changes, many credit unions still have not dove back into granting the type of loans that first created credit unions – member business loans.
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Posted: Mar 22, 2017
Categories: Regulations
Comments: 2
Author: Tom Davis

European Union opening up banking services to fintech providers.

The European Union (EU) is undergoing sweeping changes to open up banking services to fintech providers, by mandating access to account holders’ data and bypassing traditional payments rails. This potential game-changer, PSD2, will allow consumers to use Facebook or Google to pay their bills, and force credit unions and banks to change the way they do business.

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Posted: Feb 6, 2017
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Author: Paul Castner

CSCU payments prognosticators are at it again!

It’s time to put our carefully laid plans for 2017 into action. What will 2017 bring? We asked two CSCU thought leaders to share with us their predictions for the year and implications for the credit union community.

Tom Davis, CSCU’s SVP of Finance & Technology, gave us his top predictions:

Checkout-less shopping will proliferate.  Merchants like Chipotle and Taco Bell have already released their “order ahead” and “checkout-less” shopping apps.  Sam’s Club joined the party when they released their “Scan and Go” app in 2016.  Amazon’s new checkout-less grocery store is taking all of this a step further.  These apps and shopping experiences provide real conveniences that consumers value

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