continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr NAFCU President and CEO Dan Berger, in a letter Wednesday, agreed with Bureau of Consumer Financial Protection Acting Director Mick Mulvaney’s position that the bureau is not statutorily required to “run a Yelp for financial services sponsored by the federal government.”“Publication of unverified consumer narratives can have long-lasting effects on a credit union’s reputation, resulting in fewer members, market share, and potentially resulting in more time-consuming examinations,” Berger wrote as he reiterated that the bureau should remove its consumer complaint database from public view.NAFCU has pressed the bureau to avoid publication of complaint information that cannot be fully verified in order to reduce the risk of reputational harm. Mulvaney has indicated that changes will likely be made to the database to keep it consistent with the law.
ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr As Americans hunker down in their homes, changing everything about where and how they spend money, credit unions are entering uncharted territory. However, one thing is certain: credit unions must continue to be compassionate banking alternative: delivering the financial support that consumers and small businesses need now and in the face of an uncertain future.Big banks are going to do what they always do: put profit before people. Just this morning, for instance, thousands of small business owners voiced their anger on social media after being denied from Bank of America’s Paycheck Protection Loan Program. The bank stated it would only offer relief to customers that have an existing credit card or lending relationship with the bank.While Bank of America reversed its decision only after massive criticism, the initial policy demonstrates the clear connection they draw between the payments and lending side of their business and that, for them, these decisions are purely transactional. Credit unions can stand as the compassionate financial alternative, leveraging payments to support members’ immediate financial needs while building long-term relationships with them. continue reading »
The Official Bank Sponsor of the Black Stars, Unibank, has asked the Black Stars to beat the Cranes of Uganda comprehensively in their Africa Cup of Nations Group qualifier at the Baba Yara Stadium, Kumasi on Saturday.“We wish to enjoin the Black Stars to ensure a great start towards Morocco 2015 finals with a resounding victory over the Ugandans,” Unibank said in a statement in Kumasi on Friday.The management of the Bank called on the players to file out with the determination to excel and win the match convincingly to take commanding position in their Group.“We also appeal to all Ghanaians to forget what happened in Brazil and troop en masse to the stadium to spur the team to victory as the gates are now free.“Ghana is a four time Africa champion and we want the fans across the country to support the team massively as they start the journey towards winning the trophy for the fifth time in Morocco 2015.“We feel there is no better way for Ghana to begin another quest for African glory than winning this encounter convincingly and we believe the Black Stars are capable of meeting the expectation of Ghanaians,” the statement said