CUs, Consumer Advocates Wary as CFPB Releases Final Prepaid Card Rule
The Consumer Financial Protection Bureau’s final rule on prepaid cards will improve fraud protection and provide greater transparency of costs for such products, but is already drawing fire from credit unions and consumer advocates.   more »
As more merchants worry about EMV card slowdowns ahead of the holiday shopping season—when bottlenecks at checkout points could lead to many lost sales—more companies are coming up with their own ways to slash EMV payment times. more »
Starting today, banks and credit unions will get two extra chances every 24 hours to handle Automated Clearing House (ACH) credit payments. But by itself, same-day speed may not be enough to meet the demands of an increasingly digital world. more »
When Apple came knocking on their doors to sign up credit unions for Apple Pay, these companies saw an opportunity to change their ways and start acting like nimble, modern financial institutions. more »
When a mobile banking vendor told a San Antonio Federal Credit Union it didn't have the capabilities it wanted, the institution took a note from Facebook's strategy with Messenger and created a companion app. more »
Two corporate CUs — Catalyst and Alloya — are joining forces to provide a software platform that they vow will make checking more efficient and secure and easier to administer. more »
Walmart Pay has been available nationwide at Walmart stores for several weeks, but consumers haven't taken much notice — a foreboding sign for those hoping for a breakthrough with merchant-branded mobile payment apps. more »
PSCU, the St. Petersburg, Fla.-based credit union service organization (CUSO), said 11 of its owner credit unions have signed long-term contract renewals for the CUSO’s credit and debit processing services. more »
A single paragraph in a lawsuit filed by the Consumer Financial Protection Bureau is sparking fears by third-party payment processors that the agency is quietly and significantly expanding its authority over the industry. more »
Citibank is offering surcharge-free ATM access to the customers of 16 credit unions and minority-owned banks in six cities. more »
Nearly half of U.S. consumers say they have been hit by credit card fraud within the last five years, and those breaches are becoming more commonplace, according to a survey released Tuesday. more »
Nebraska Credit Union League in Omaha has partnered with First Data's Star Network. more »
As the U.S. Supreme Court has agreed to consider a legal case on ATM fees, credit unions are bracing for impact. more »
How Diverse is Your CU?
This video from NCUA introduces the regulator's new diversity self-assessment checklist to help credit unions can improve their diversity efforts. The assessment has no bearing on an institution's CAMEL rating and is not part of the exam process.