Compliance

As the Federal Credit Union Act turns 85, industry figures are working on issues related to executive compensation, UDAAP and more, all while girding for a slowdown in membership and loan growth.

Executives and directors from across the industry discussed their concerns for the industry and priorities for the next year during this year's NAFCU and CUNA annual conferences.

Credit union executives discussed serving the legal marijuana and hemp businesses during NAFCU's annual conference in New Orleans, including vastly different motivations for serving the industry.

Both are useful, but each has specialties in protecting different types of transaction processes, according to Rambus Payments' Andre Stoorvogel.

Facebook is focusing the initial discussions around its cryptocurrency project as a preemptive strike against the privacy and legal concerns the public and politicians have about the huge social network.

The company will create a regulated subsidiary offering a digital wallet; San Francisco Fed wants CRA credit for loans that help prepare for climate change.

Payments Canada is proposing to allow delayed transaction authorization to enable debit cards to be used in open-loop transit — and the change could affect far more than commuters.

The National Credit Union Administration's controversial risk-based capital proposal could see further delays or changes as thousands of industry professionals head to CU conferences across the country.

The bank is looking to combine several units that invest in income-producing assets; increased scrutiny has led banks to address the risks of climate change.

The watchdog and three Democratic lawmakers urged the agencies to stop using knowledge-based verification methods to grant access to their online portals.