Data security at most financial institutions tends to be a reactionary exercise based primarily on fear, Mark Berman, principal and founder of Horsetail Technologies, told attendees of the CUNA Payments Roundtable Tuesday.
During her presentation Tuesday at the CUNA Payments Roundtable in New Orleans, Caroline Willard, executive vice president of CO-OP Financial Services, offered a statistic that put the transforming emergence of mobile payments in eye-opening context: Mobile payments increased at a 59% growth rate in 2014.
Richard Crone, CEO of Crone Consulting, who facilitated the CUNA Payments Roundtable in New Orleans Monday and Tuesday, offered participants a simple but daunting piece of advice to meet the challenges presented by the digital payments environment: Bet on yourself.
Tom Davis, senior vice president with Card Services for Credit Unions, Tampa, Fla., provided an overview of the evolving digital payments landscape Monday for credit unions during his presentation at the CUNA Payments Roundtable Monday.
While financial institutions continue to focus on the execution of mobile payments, Ron Shevlin of Cornerstone Advisors urged participants at the CUNA Payments Roundtable to add value to the mobile experience.
Since CUNA’s compliance staff compiled a list of changes in mortgage interest reporting under the IRS’s Form 1098, several questions have arisen. CUNA’s compliance staff has been able to connect with a coalition of consumer mortgage lenders to provide answers.
After months of advocacy by CUNA, the CFPB Thursday wrote to CUNA announcing it will initiate a rulemaking this summer to address issues with the bureau’s Truth in Lending Act-Real Estate Settlement Procedures Act integrated disclosures rule.
The Financial Accounting Standards Board voted Wednesday to proceed with its current expected credit loss proposal, which defers the original effective date for one year for entities such as credit unions--a change sought by CUNA in its comments to FASB.