CUNA Mutual Group is enhancing its collateral protection solutions for credit unions to address emerging risks to their loan portfolios related to the growing popularity of transportation network companies such as Uber and Lyft.
The California and Nevada Credit Union Leagues have signed a marketing agreement with Monrovia, Calif.-based Financial Technology Solutions International Inc. (FTSI) to provide ATM machines, maintenance services and branch transformation technology to the leagues’ member credit unions.
LSC’s EZ Launch program has resonated so well with credit unions and members that the Illinois Credit Union League subsidiary has approved as many applications since May 1 of this year as in all of 2014.
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.