The Overdraft Compromise
The debate on overdraft has been a long and complicated affair, with credit unions and members often finding themselves on opposing sides. However, Emily Claus wonders if there’s a way for the two sides to meet in the middle and reach a compromise that works for credit unions and members alike.
Credit Unions Keeping Watchful Eye on Credit Card Rate Cap
Credit union advocacy groups have begun pushing back against the President’s recent claim that he will cap credit card interest rates at 10% for one year. Should an official order be issued, the cap would go into effect on the 20th, Emily Claus reports.
House and Senate Both Pass Resolution to Nullify CFPB Overdraft Rule
As part of the administration’s deregulation efforts, both Chambers of Congress have passed a resolution which would nullify the CFPB’s Overdraft Rule, with the President expected to sign it in the coming weeks, reports Emily Claus.
NCUA Releases Research Note On Overdraft Fee Income
The NCUA has released a research note on credit union NSF and overdraft fee income as the CFPB attempts to limit such fees, Emily Claus reports.
The Overdraft Issue
Overdraft fees have long been the topic of debate, with the CFPB looking to severely limit or get rid of them entirely and credit unions, in return, looking to get rid of the CFPB entirely. But there are two sides, maybe even three, to every story. Emily Claus examines the overdraft issue, the various perspectives on it, and what potential outcomes there might be.
CFPB and Credit Unions Clash on Fee Income Reporting and Protections
In recent news on the never-ending clash between credit unions and the Consumer Financial Protection Bureau regarding fee income, credit unions are speaking out against new requirements making fee income public information, reports Emily Claus.
The Fight Against the CFPB’s Late Fee Rule Continues, But Not In Texas
In the latest update on pushback against the CFBP’s credit card late fee ruling, a Texas judge has rejected trade groups’ request for the suit to be filed in the lone star state—where the conditions are more favorable—instead of Washington D.C. Emily Claus reports.
NCUA and CFPB Considering Overdraft, Late Fee Proposals
The NCUA has announced it will consider the long-dreaded proposals on changing the way credit unions charge late fees and overdrafts, reports David Baumann of CUCollaborate.
The House Financial Services Committee Approves Controversial Legislation to Limit Overdraft Fees
Last week, the House Financial Services Committee approved overdraft legislation which would limit the number of overdraft fees banks and credit unions can charge their clients. Emily Claus discusses the bill’s future and repercussions.
Pruning the Membership Tree
Not all growth is beneficial, and not all members are good for the credit union, argues data analyst George Hopper. But how best can you prune your membership tree without cutting off the wrong branches?
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