Many small-business owners have undoubtedly heard about remote deposit capture. But incorporating those time-saving technologies into their small-business operations will have to wait—because these business owners are just too busy.
As both credit unions and members recover from the Great Recession, a thoughtful approach to strengthening collections makes it possible to find solutions for members, reclaim loan funds, and refine lending operations.
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.
CUNA is concerned with a report on consumer testing used by the CFPB to analyze periodic statement forms for consumers in bankruptcy, but concurs with some of its findings. The bureau issued a report in February on its study.