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Now that NCUA has come out with its priorities for the coming year, the question is how will it impact your credit union? I have some thoughts about how best to prepare. Please feel free to give me a call.
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How to balance the potential benefits of artificial intelligence against its potential misuses is one of the key questions facing financial regulators: Too much regulation could squelch innovation and too little could result in consumer distrust of technology which could potentially expand lending opportunities for poor and working-class consumers
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Here is a thoughtful insight into how a supervisor envisions his job.
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Even though this article was first published in October, this is an issue that won't go away. On the one hand, the prevalence of hacking and stringent BSA oversight make quick action essential. On the other hand, members are left to wonder what they did wrong.
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The primary purpose of these amendments is to make it easier for credit unions to engage in indirect lending, loan participations and eligible obligation arrangements in general, and with fintechs and CUSOs, in particular. The changes accomplish this goal by:
· Removing limits on the amount of eligible obligations that can be purchased by credit unions;
· Clarifying the difference between eligible obligations and loan participations;
· Allowing credit unions, regardless of CAMELS rating, to purchase loan participations; and
· Allowing credit unions to develop their own internal lending limitations, provided they do so with an enhanced due diligence framework and legal review, where necessary to ensure their interests are protected.
To discuss how your credit union can prepare to take maximum advantage of these changes please call or email the firm.
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