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Tuesday, April 21, 2015
FICO's Alternative Credit Score: Boon or Burden?
FICO recently unveiled a pilot program under which a dozen of the country's largest credit card issuers will use data from "alternative" sources to generate credit scores for an estimated 15 million Americans who are either unbanked or under-banked and, up until now, had no credit score.
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ELGIN, Ill.—Lending Solutions Inc. announced it has signed eight new clients for its lending and contact center services during Q1. more »
Should credit unions consider making student loans to students' parents, instead of the students themselves? more »
Low-income borrowers are responsible for much of the recent surge in student loan defaults and delinquencies, according to new research by the Federal Reserve Bank of New York. more »
WASHINGTON — The Consumer Financial Protection Bureau filed a lawsuit Tuesday against the owner of several tax-preparation outlets who allegedly steered low-income clients into expensive loans against their anticipated refunds. more »
VIENNA, Va. — Navy Federal Credit Union said it has closed a "record-breaking deal" with the Marine Corps Heritage Foundation (MCHF) on a commercial construction loan to complete the National Museum of the Marine Corps in Triangle, Va. more »
The Consumer Financial Protection Bureau's proposed rule cracking down on predatory payday lenders could wind up shutting down some credit unions' consumer-friendly payday loan alternatives. more »
NORTHRIDGE, Calif. — CU Business Partners has rebranded as Extensia Financial, the CUSO announced. more »
WASHINGTON — The Consumer Financial Protection Bureau's plans for revamping payday lending set off a fierce debate Thursday over whether the agency had gone too far or not far enough, proving that this is likely to be one of the trickiest rulemakings the agency will ever attempt. more »
After releasing successive studies on the payday industry over the past two years, the Consumer Financial Protection Bureau is finally set to unveil Thursday sweeping proposals that could fundamentally change the business of short-term loans and other products. more »
Subprime auto lending has become a top priority for the CFPB, said Steve Antonakes, the agency's deputy director on Wednesday. He also revealed that it was open to making changes to its complaint portal, which the agency recently said would allow consumers to post detailed narratives of their problems with financial institutions. more »
As banks and alternative lenders start approving more small business loans, credit unions are facing growing competition for marketshare. more »
WASHINGTON — President Obama has directed the Department of Education and other agencies to institute changes meant to improve student loan servicing in an initiative the White House calls "a student aid bill of rights." more »
GREENVILLE, S.C. — Faced with soon-to-be non-existent investment income in 2009, Greenville Heritage FCU had two choices: hike fee income, or completely rebuild its loan program. more »
Jun 01 - 03 | NCCR

Hyatt Regency
New Orleans
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Jun 08 - 10 | Digital Banking Summit

Hilton Austin
Austin, TX
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Don't Freak Out
After a recent rebrand as Verve, a Credit Union, the CU uses this spot to re-introduce itself - and its new name - and its new spokesman, Merv.
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