For most credit unions, asset/liability management (ALM) has been a “get in line” topic: Get in line behind security, marketing, loan origination and tracking, member relationships, and a host of other pressing matters.
The latest "100-year" economic crisis to affect the global economy, which lately seems to occur every seven to eight years,
is the Euro-Zone debt crisis. The culprit: Too much borrowing and spending during the last decade.
CUNA President/CEO Jim Nussle said Thursday that the field-of-membership rule changes proposed by the National Credit Union Administration at its open board meeting will provide greater choice for consumers, as well as flexibility for credit unions to better serve their communities.
Human trafficking, money laundering, trade-based money laundering and terrorist financing all come with their own sets of red flags for financial institutions. In addition, entities such as money services businesses and cash-intensive businesses can be legitimate, but also have potential to be used for illicit activities.