CFPB and Open Banking: Searching for a Solution While Creating New Problems
The Consumer Financial Protection Bureau has released a new rule on open banking, a system which in theory is meant to help members, but in reality places undue burdens on financial institutions. Patrick Sickels and Jim Vilker cover the requirements of the rule and where it falls short.
Don’t Let Your Strongest Asset Become a Weakest Link
It is easy to overlook or ignore single points of failure in your business. Jim Vilker discusses why it’s best to address them before they become a major liability.
Are Overdraft Fees on the Chopping Block?
Overdraft and NSF fees have been in the CFPB’s spotlight of late. Jim Vilker suggests slowing down and considering the ramifications carefully before rushing to respond.
Overdraft Class Actions: What Credit Unions Need to Know in 2022
With class-action overdraft lawsuits on the rise, Patrick Sickels explains how credit unions can get into trouble with fees and ambiguous phrasing and what steps you can take to protect your credit union.
The Key to Creating a Good Risk Assessment
A good risk assessment is essential for determining your credit union’s current risk status and if additional loss mitigation controls are needed. So how do you go about creating one? Jim Vilker offers advice on the process.
Counseling Members When Identity is Compromised
When a member faces a potential account breach, they turn to their credit unions for help, but what happens when the teller isn’t sure what to do either? Jim Vilker offers up key steps to take when identity and accounts are compromised and resources to help you better support your members during the recovery process.
Managing Critical Vendor Relationships: More Process Than Tool
Having a vendor management tool can be a great boon, but it’ll take a sound plan and policy to manage your vendor relationships effectively. Jim Vilker shares his thoughts on what a good policy and procedures need to succeed.
Mitigating Brute Force BIN Attacks
What can credit unions do to prevent or mitigate losses from brute force BIN attacks? Audit and compliance expert Jim Vilker and EFT expert Heather French explain what a brute force BIN attack is and what credit unions can do to limit the damage.
The Key to Internal Fraud Controls? Get Back to the Basics
Due to recent high profile embezzlement cases, Jim Vilker argues that what the industry really needs is to slow down, check all the boxes, and get back to the basics of internal auditing.
Managing Regulatory Ramifications in Today’s Environment
With COVID-19 altering the country every day, credit unions are being required to make significant decisions and changes with little notice. Jim Vilker lends some guidance on how to prepare your credit union for any eventual justification that may be required once things return to the norm.
- 1
- 2
