WASHINGTON (4/8/16)--Staff from the Federal Reserve visited CUNA's Washington, D.C., office Thursday to discuss its payments initiatives. CUNA, via its advocacy efforts and its Payments Subcommittee, is a consistent advocate for a modern, secure payments system.
SALT LAKE CITY (4/8/16)--Consumers want to get their payment tools from their financial institutions, said CO-OP Financial Services’ Caroline Willard, during the final day of the 2016 CUNA Payments Roundtable in Salt Lake City Thursday.
SALT LAKE CITY (4/7/16)--Consider this: Facebook is a $236 billion company, and it offers no original content. The rental website AirBnB is capitalized at $10 billion and doesn’t own an inch of real estate. Uber is worth $40 billion and doesn’t own a single vehicle.
The Department of Labor will publish its final rule Wednesday regarding employees’ eligibility for overtime pay--a rule which CUNA believes will have unintended negative consequences for credit unions, particularly smaller credit unions and those in non-metropolitan areas.
Further CUNA analysis of the U.S. Department of Labor’s overtime rule found minor relief, but CUNA remains concerned about the increased burden on credit unions. Several CUNA-suggested changes were included in the final rule.
Six federal agencies published guidance last week designed to ensure all depository institutions are aware of expectations when it comes to deposit reconciliation. CUNA’s compliance explains what it means for credit unions in a recent CompBlog post.