When the new final remittance rule was released by the CFPB, many of you probably assumed it didn’t apply to your credit union because you don’t do traditional remittance transfers. Well, if you do international wire transfers or international ACH transactions, it may apply to you.
/ READ MORE
This week I am teaching a session at PayFusion’s Debit Card School in Boston about Reg E and debit card compliance issues. I thought I would share with you some of what will be discussed at the school. I also raise the issue here because recently the NCUA’s consumer compliance area indicated that some of the most common complaints they get are related to unauthorized transactions and Reg E.
/ READ MORE
It has definitely been an up and down year here in America. We have seen the roller coaster ride of Congress coming to an agreement on the debt ceiling. The stock market has been wildly fluctuating up and down (mostly down). The NFL season was almost lost and we still don’t know if the NBA will have a season this year. While all of this was happening, one area that garnered a lot of attention in the financial world was debit interchange.
/ READ MORE
Who doesn’t love to get something for free! The Great Iowa State Fair starts today and as a regular attendee, I will be partaking in the freebies…free concerts, free koozies, free pencils, free Iowa State University football posters (yes, they have the Iowa Hawks too!) and the list goes on….
/ READ MORE
Merriam-Webster provides the following completely unrelated (and some would argue diabolically opposed) definitions to GARNISHMENTS:
An ornament; a useful accessory; something that lends grace or beauty; a manner or quality that adorns; one whose virtues or graces add luster to a place or society; the act of adorning or being adorned; or an embellishment.
OR
A legal summons or warning concerning the attachment of property to satisfy a debt; or a stoppage of a specified sum from wages to satisfy a creditor or a legal obligation.
/ READ MORE
LAST CHANCE TO REGISTER!
The much anticipated final rules on debit interchange fees and PIN routing were released by the Fed on June 29. Be among the first to learn how they will impact your debit program.
On Wednesday, July 6, PolicyWorks and The Members Group will host a webinar with compliance and industry experts from PolicyWorks, PayFusion and SHAZAM to go over the final rules and address how they will impact your credit union’s debit program.
/ READ MORE
Effective June 24, 2011, NCUA will fully insure the net amount that any member or depositor at an insured credit union maintains in a noninterest-bearing account (also known as non-dividend bearing transaction accounts for federal charters).
/ READ MORE
