PayThink

Expertise alone is insufficient without experience, and its byproduct: a "gut" feeling that enables a lender to separate the good credit applicant from the bad, the legitimate from the "con".

For decades, credit unions have treated insurance products as the redheaded stepchild to their core business. Pressure on net-interest margins, the need for fee income that comes from helping members and not dunning them, the focus on member retention by increasing products per household, and the major jump in online banking utilization rates-all of these factors are causing a few innovative credit unions CEOs nationally to rethink insurance.

It seems that a Mr. Sam Clemons, who was something of a steamboat pilot during the latter half of the 19th century, may have been onto something when he observed that there are three kinds of lies: Lies, Damn Lies and Statistics.

Arp Trivedi, manager of administration with Motion Federal Credit Union, explains how Smartsheet and Google Apps have given a boost to his credit union.

History shows banks can't compete with agents selling consumers insurance. But credit protection products have been highly profitable for the banks, and can remain so – provided the products are reformed.

By downgrading the CRA rating of JPMorgan Chase, the OCC demonstrated it is capable of holding a major bank accountable for a deplorable record of serving the credit needs of low- and moderate-income communities.

The Consumer Financial Protection Bureau released its final rule on Thursday, establishing new standards for all mortgages.

The Consumer Financial Protection Bureau released its final rules restricting fees and lump-sum payments for certain high-cost loans on Thursday.

"Despite widespread fears by lenders that a 800-page rule released Thursday by the Consumer Financial Protection Bureau would end mortgage lending as we know it, the final regulation appeared to be significantly less onerous than many expected," writes American Banker's Rachel Witkowski.

The CFPB's final Qualified Mortgage rule exacerbates our dependence on the GSEs and FHA, potentially harms a large swath of potential borrowers and severely handicaps the market’s ability to effectively serve customers.