The Bias Within Lending: Navy Federal and An Outdated System

The Bias Within Lending: Navy Federal and An Outdated System

Navy Federal Credit Union is currently facing a lawsuit for discriminatory lending practices. But is Navy Federal a lone offender? Or is this issue industry-wide? CUSO Magazine’s Emily Claus sat down with Tim Ray, CEO of VeriFast to delve deeper into the issue and discuss industry reform.

Read more
Are Credit Unions Moving Beyond the NCUA?

Are Credit Unions Moving Beyond the NCUA?

Despite a lending capacity of nearly $20 billion, the Central Liquidity Facility has not issued a loan since 2009, leaving many such as Chip Filson wondering if the organization has outlasted its usefulness.

Read more
Credit Unions and the Evolution of “Buy Now Pay Later” Lending

Credit Unions and the Evolution of “Buy Now Pay Later” Lending

Chip Filson dives into the history of buy now, pay later and how the practice—and those who use it—has changed over the decades.

Read more
Using AI to Assess and Understand Your Loan Portfolio Ahead of Student Loan Repayments

Using AI to Assess and Understand Your Loan Portfolio Ahead of Student Loan Repayments

As the pause on student loan payments comes to an end and borrowers begin planning how this will impact their finances, Adine Deford shares how credit unions can use AI to understand who in their loan porfolio this may impact the most.

Read more
Consumers Charged Nearly $3 Billion in Fees Annually from Predatory Lenders According to Study

Consumers Charged Nearly $3 Billion in Fees Annually from Predatory Lenders According to Study

In a study released June 2023 by the Center for Responsible Lenders, analysts found that borrowers are charged nearly $3 billion annually for single-payment, payday installment, and car-title loans, reports Esteban Camargo.

Read more
Takeaways from the 2023 CU*Answers Leadership Conference

Takeaways from the 2023 CU*Answers Leadership Conference

CU*Answers held its Annual Leadership Conference discussing the future of the industry and of CU*Answers as it moves forward into 2024. Check out the key takeaways from each section of the event!

Read more
Credit Unions Should Harness AI to Boost Inclusive Lending

Credit Unions Should Harness AI to Boost Inclusive Lending

Try as we might, standard lending methods can often be fraught with bias—unintended or otherwise—which can negatively impact underserved communities. Nidhi Panday of Zest AI shares the benefits of using AI decisioning to increase lending inclusion.

Read more
Supreme Court Agrees to Review Ruling Declaring CFPB Structure Unconstitutional

Supreme Court Agrees to Review Ruling Declaring CFPB Structure Unconstitutional

In light of the Supreme Court’s decision to review the ruling declaring the Consumer Financial Protection Bureau unconstitutional, Emily Claus reports on the history of the CFPB and its controversial structure, funding, and Payday Rule.

Read more
Why Credit Unions Should Offer Interest-Only Loans

Why Credit Unions Should Offer Interest-Only Loans

Coming out of a year of significant growth for credit unions’ real estate loan portfolio, AVANA’s Shivan Perera discusses why credit unions might consider offering interest-only periods on their loans.

Read more
Get to Know Ashley Melder of Lender*VP

Get to Know Ashley Melder of Lender*VP

Get to know Lender*VP’s new Vice President of Professional Services, Ashley Melder, as she sits down with CUSO Magazine to discuss her experience, her role in Lender*VP, and how she and her team help credit unions daily. 

Read more