CFPB’s Credit Card Late Fee Proposal Continues to Draw Criticism from CUNA
In a letter to the CFPB, the Credit Union National Association details its reasons for opposing the Bureau’s proposed reduction of maximum allowable credit card late fees to $8, reports Esteban Camargo.
Even More Ratios to Understand Your Credit Union’s Performance
CUSO Magazine’s Esteban Camargo follows up on his previous article on important credit union ratios to understand with five more KPIs credit union leaders use to gain a grasp of their credit union’s financial performance.
Too Much of a Good Thing: The Net Worth Balancing Act
Credit unions need to maintain a certain net worth ratio to be considered well-capitalized, and many go above and beyond to ensure the safety of their institution. CUSO Magazine’s Esteban Camargo wonders whether it is possible to be too safe when managing net worth.
What Exactly is a Corporate Credit Union?
CUSO Magazine’s Esteban Camargo continues Financial Literacy Month by shedding some light on corporate credit unions, what they are, how they formed, and where they stand today.
NCUA’s Community Development Revolving Loan Fund to Award Up to $3.5M in 2023
The National Credit Union Administration announced that eligible credit unions will once again be able to apply for Community Development Revolving Loan Fund (CDRLF) grants in 2023, with the application window opening from May 1 to June 30, reports Esteban Camargo.
Explaining Liquidity in Credit Unions
It’s Financial Literacy Month and CUSO Magazine’s Esteban Camargo is back to explain key financial and economic concepts that impact our industry. In this article, Esteban attacks liquidity, explaining what it is and how credit unions manage it.
Credit Unions’ Role in an Increasingly Cashless Society
As nations begin to transition to cashless societies, eschewing cash and coin for digital payments solutions, CUSO Magazine’s Esteban Camargo wonders what credit unions’ role should be to their communities.
In the Wake of Silicon Valley Bank Collapse, NCUA Chairman Harper Issues Statement
Following the events of the weekend, during which two mid-sized banks collapsed, NCUA Chairman Todd Harper issued a statement on the safety and soundness of the credit union system, reports CUSO Magazine’s Esteban Camargo.
Overdraft Fee Income Down, Other Checking Account Fees Steady, Reports CFPB
In a report issued by the Consumer Financial Protection Bureau (CFPB) last week, the agency announced that banks’ reported overdraft fee income “was 43% lower in the third quarter of 2022 than in the third quarter of 2019 before the COVID-19 pandemic onset – suggesting $5.1 billion less in fees on an annualized basis,” reports CUSO Magazine’s Esteban Camargo.
New Chairman of Subcommittee on Financial Institutions Supports Cannabis Banking
Representative Andy Barr, a Republican from Kentucky’s 6th district, was chosen to lead the Subcommittee on Financial Institutions and Monetary Policy, which was previously known as the Subcommittee on Consumer Protection and Financial Institutions, reports Esteban Camargo.
