Mobile payments are growing by 68% annually—from $16 billion in 2010 to a projected $214 billion by 2015. This transaction type continues to be the single greatest opportunity for—and threat to—credit unions.
"Technology is shifting the landscape of how we pay," says Mark Sievewright, president of credit union solutions for Fiserv.
The CFPB released the results of its survey on debt collection Thursday, prior to its discussion on the same topic. The survey, which consisted of 53 questions about first- and third-party debt collection, does not specifically identify credit unions.