PayThink

It’s taken the U.S. years to embrace, but the migration to Chip and PIN payment technology and its associated “liability shift” will finally happen in 2015.

The CFPB should receive its funding from Congress rather than the Federal Reserve in order to increase its accountability. Lawmakers should also take steps to limit the power accorded to the agency's director.

Banks can be compliant with cybersecurity guidelines and still remain vulnerable to massive liabilities. One case in point: many financial institutions carry mandatory insurance policies that could leave them on the hook for six-figure losses from corporate account takeovers.

In taking on contingent acquiring liability, merchant acquirers risk substantial exposure to financial losses in the event of client insolvency.

Customers affected by cyberattacks frequently direct their wrath at financial institutions, whether or not a bank is responsible for the breach. Therefore banks need to have a strategic communications strategy in place.

Online lending marketplaces claim that they will revolutionize the financial services industry. But financial companies need a lot more than high-tech prowess to achieve sustained success.

On the heels of the recent barrage of payment card theft, banks are scrambling to roll out EMV based solutions, but is it enough?

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

In general, CUNA will work to remove barriers, create awareness and foster service excellence for credit unions (with the ultimate aim of achieving our overall vision of "Americans choose credit unions as their best financial partner").

Whether the credit union is large or small, focused on community, sponsor companies or small business; having a singular interest in the outcomes for your members trumps the drive for shareholder/investor returns.