Skip to main content

CFPB to Inquire About Overdraft and Courtesy Pay Programs

There was no shortage of information yesterday regarding the CFPB's first steps toward reviewing overdraft programs. I was just mentioning a few weeks ago how the CFPB has the ability "to drop" a new issue without advanced notice to the industry. This could be labeled as Exhibit A.  I'm sure quite a few other folks where enjoying a quiet Wednesday (yeah right) until they saw the news "CFPB to Review Overdraft Programs" come across their email inboxes. And, while we are at it - what do the regulators have against February 22nd? I know a lot of folks still get heartburn thinking about the February 22, 2010 deadlines from the Credit CARD Act.    **** READ MORE: http://bit.ly/x7WM2j

Comments

Post a Comment

Please no profanity or political comments.

Popular posts from this blog

Where are your children banking?

  Grant Sheehan CCUE | CCUP | CEO, NCOFCU The B reach  Between Purpose and Experience Just recently, I came across a story that has stayed with me. It wasn’t dramatic in the traditional sense. There was no scandal, no crisis, no headline-grabbing failure. In fact, it was something much quieter than that. It was simply the story of an eighteen-year-old leaving his credit union. On the surface, that might not sound remarkable. Young people move their money frequently. They open new accounts, experiment with apps, follow trends, and often make financial decisions influenced by the digital tools at their disposal. But this story was different. This young man had been a credit union member since he was a few weeks old, as many credit unions do. His mother has spent her career working inside the credit union movement as an executive. For eighteen years, his financial life was connected to a credit union. If anyone might be expected to remain a lifelong member, it wou...
Post a Comment
Read Complete Article HERE>»

5 Red Flags: When Boards Lean Too Heavily on Management

  The Quiet Governance Risk Credit Unions Should Talk About By Grant Sheehan, CCUE | CCUP | CEO, NCOFCU Having spent many years both serving on a credit union board and leading as a CEO , I’ve had the opportunity to see governance from both sides of the table. That perspective has given me a deep appreciation for the delicate balance that must exist between management, leadership, and board oversight. When that balance works well, credit unions thrive. But when it slowly shifts — often unintentionally — it can create governance weaknesses that regulators and examiners increasingly watch for. In conversations with governance professionals and through years of industry experience, one theme keeps emerging: most governance problems don’t begin with bad intentions or misconduct. They begin with boards that gradually become too dependent on management. This is rarely obvious at first, but in fact, it often occurs within high-performing organizations. But slight patterns ca...
Post a Comment
Read Complete Article HERE>»

We Don't Need More Trade Groups!

This is a op-ed reference: New National Trade Group Forms To Champion Credit Unions Under $500M Grant Sheehan, CEO, NCOFCU Let’s be clear—representation for small credit unions is not something new that suddenly needs to be invented. For more than 150 years in Europe and 115 years in the US, many of us—along with numerous trade groups representing postal workers, schools, hospitals, the military, first responders, electricians, welders, auto workers, and many other sponsor employee groups—have been actively representing and supporting small credit unions. The mission has always been the same: protect these institutions and ensure they have a voice. The real challenge facing small credit unions has never been a lack of organizations claiming to represent them. The challenge has been engagement and education. Many small credit unions operate with extremely limited resources. Their boards are made up of volunteers who already have full-time careers. Even when scholarships, training ...
Post a Comment
Read Complete Article HERE>»

From Share Drafts to Stablecoin: Progress Is the Product

  From Share Drafts to Stablecoin: Progress Is the Product By  Jeff Rendel Expert Opinion March 09, 2026 at 08:00 AM Share & Print There was a time when the phrase "share draft" felt modern. It was progressive. It was distinct. It was proudly credit union. We didn't offer checking accounts; we offered share drafts because members owned shares in a cooperative, not deposits in a bank. It was an important distinction. It meant something philosophically and structurally. And when share drafts were introduced, they were new. Innovative. Even controversial. Somewhere along the way, however, share drafts became nostalgic. The language remained, but the behavior changed. Today, many members under 30 have never written a check. Many under 40 rarely do. Payments have migrated – steadily, predictably – from paper to plastic, from plastic to digital, from digital to embedded and real-time. This is not disruption in the dramatic sense. It is evolution. And credit unions have alwa...
Post a Comment
Read Complete Article HERE>»

Meet Spokane Firefighter Credit Union (SFCU) New President/CEO - Troy Clute

Meet SFCU's New President/CEO - Troy Clute  Troy Clute serves as the President and Chief Executive Officer of Spokane Firefighters Credit Union, bringing 29 years of experience in banking and finance. His career includes extensive leadership roles across the industry, with a strong foundation in consumer lending and member-focused financial services. Troy is a graduate of the renowned CUES CEO Institute Program, having earned the Certified Chief Executive (CCE) designation—one of the highest leadership credentials in the credit union movement. His leadership is defined by strategic vision, operational excellence, and a deep commitment to serving Spokane’s firefighter community and their families. Beyond his professional role, Troy values family above all. He and his wife, Karri, have been married for 36 years and share two grown children, Kellen and Kennadie, as well as three grandchildren—Tyus, Izze, and Major—who keep life joyful and full of adventure. When he’s not leading the c...
Post a Comment
Read Complete Article HERE>»

Outside Credit Unions - 54th Iditarod Trail Sled Dog Race

  Dog Sled Race Begins   The 54th Iditarod Trail Sled Dog Race kicked off yesterday, with hundreds of dogs amassing at the ceremonial start in downtown Anchorage, Alaska, before moving north to the official starting line. Thirty-four mushers will compete, with the race expected to end in mid-March. The race dates back to 1973, with cofounders Dorothy Page and Joe Redington Sr. seeking to honor the state’s mushing tradition. The race also honors Alaska’s Iditarod Trail—a 938-mile freight and mail route forged in 1908 that was later instrumental in responding to a diphtheria outbreak ( see more , w/video). Though the first race (1,000 miles) lasted 20 days, dogs today have become faster, reaching the finish line in Nome in roughly 10 days. There are 12-16 dogs per sled to start, as some dogs exit due to injury; mushers must finish with at least five. Norwegian billionaire Kjell Rokke will join the fray in this year’s ra...
Post a Comment
Read Complete Article HERE>»

Letter to Federal Credit Unions (25-FCU-02) Federal Credit Union Post-Examination Survey

    Letter to Federal Credit Unions (25-FCU-02) Federal Credit Union Post-Examination Survey Dear Boards of Directors and Chief Executive Officers: The NCUA has been using a voluntary post-examination survey for examinations of federal credit unions since 2021. This feedback is very important and helps the NCUA evaluate our examination processes; credit unions have used the open-ended questions to submit numerous useful suggestions. To further improve the survey process, the NCUA has arranged to have the post-examination survey administered by an external vendor. The external vendor will begin administering the survey starti...
Post a Comment
Read Complete Article HERE>»

Sunday Reading - March Madness, explained

  The Big Dance   March Madness, explained "March Madness" is the well-known name for the NCAA's annual Division I men's and women's basketball tournaments, which determine national champions through a 68-team , single-elimination format. Automatic bids go to 31 conference winners, while 37 at-large selections fill the field. The high-stakes structure—where smaller "Cinderella" schools can upset powerhouses—drives huge viewership and revenue; TV and marketing rights account for roughly two-thirds of the NCAA's $1.4B income in fiscal 2024. The National Inv...
Post a Comment
Read Complete Article HERE>»

Economic and Industry Issues

Weekly News Summary -  July 30, 2020 Press Release For Immediate Release Weekly News Summary Hello NCOFCU Members, Here are some things that were in the news last week. Please share these articles with your Supervisory Committee and Board of Directors. If you missed previous editions of the weekly news, summaries of those can be viewed at our  archive .  Have a great week! Mike Richards, CPA         The Callahan Credit Union A...
Post a Comment
Read Complete Article HERE>»

Three Tips for Better Google Searching - NYTimes.com

Here are the three tips — basic, intermediate and advanced — from Dan Russell at Google. He studies how people use the search engine and teaches classes on how to do it better , including a free online course this month, for which registration started Tuesday. He promises these tips will make you happy, and he cares a lot about that — his official title at Google is über tech lead for search quality and user happiness.----- Three Tips for Better Google Searching - NYTimes.com
Post a Comment
Read Complete Article HERE>»