Credit Unions/page/5 news and trends

Giving Credit Unions Credit: Bright Future for ‘Little Guys’ of Banking
Credit Unions // November 05, 2024

Bigger doesn’t always mean better across financial services — especially when it comes to innovation. And as financial technology reshapes the payments industry, even smaller, regional credit unions are finding that they must adapt quickly or risk falling behind. The CFOs of these financial institutions...

Rule 1033 Explained: How the CFPB’s Data Sharing Standards Could Reshape Banking
Regulation // November 05, 2024

The Consumer Financial Protection Bureau’s finalized rule on data sharing has its share of supporters and detractors. Those in favor of the new mandates — and as described by the CFPB itself — say the rule promotes competition among incumbent banks, levels the playing field...

CFPB: VyStar Hurt Customers With ‘Botched’ Online Banking Rollout
Regulation // October 31, 2024

Federal regulators have taken action against VyStar Credit Union following a “botched” online banking launch. As the Consumer Financial Protection Bureau (CFPB) said in its announcement Thursday (Oct. 31), VyStar in May 2022 switched to a new and “dysfunctional” digital banking platform that made it...

Pinwheel and Candescent Launch Direct Deposit Switching Partnership
Partnerships // October 30, 2024

FinTech Pinwheel teamed with account opening solutions firm Candescent, formerly Terafina. The partnership brings Pinwheel’s direct deposit switching solution to Candescent’s bank and credit union clients, according to a Wednesday (Oct. 30) press release. “Consumers today have more accounts than ever before, banking at multiple...

Interviews & Exclusives
Giving Credit Unions Credit: Bright Future for ‘Little Guys’ of Banking

November 05, 2024
Bigger doesn’t always mean better across financial services — especially when it comes to innovation. And as financial technology reshapes the payments industry, even smaller, regional credit unions are finding that they must adapt quickly or risk falling behind. The CFOs of these financial institutions are helping lead the charge, Lanny Berlingieri, CPA, CFO at Cardinal […]

Rule 1033 Explained: How the CFPB’s Data Sharing Standards Could Reshape Banking

November 05, 2024
The Consumer Financial Protection Bureau’s finalized rule on data sharing has its share of supporters and detractors. Those in favor of the new mandates — and as described by the...

Democratizing Payments: How Payment Hubs Fuel Innovation for Smaller Banks

October 28, 2024
Keeping pace with innovation can be daunting. For small- to mid-sized banks, credit unions and FinTechs, implementing the latest money movement integrations like real-time payments and more can be a...

Embedded Finance Comes With Side-Helping of More Merchant Sales

October 22, 2024
The promise of embedded payments — and the march toward embedded everything — says that commerce and money movement is seamless and intuitive. In the continuing conversations within the “What’s...

Quick Reads
CFPB: VyStar Hurt Customers With ‘Botched’ Online Banking Rollout

October 31, 2024
Federal regulators have taken action against VyStar Credit Union following a “botched” online banking launch. As the Consumer Financial Protection Bureau (CFPB) said in its announcement Thursday (Oct. 31), VyStar in May 2022 switched to a new and “dysfunctional” digital banking platform that made it difficult for members to perform basic banking features for weeks […]

Pinwheel and Candescent Launch Direct Deposit Switching Partnership

October 30, 2024
FinTech Pinwheel teamed with account opening solutions firm Candescent, formerly Terafina. The partnership brings Pinwheel’s direct deposit switching solution to Candescent’s bank and credit union clients, according to a Wednesday...

Velera and RAI Collaborate on Credit Acceptance Programs

October 30, 2024
Velera and RAI Partners have teamed up to offer credit unions access to solutions that include turn-down programs and portfolio acquisitions. The two credit union service organizations (CUSOs) will work...

Crater Launches AR/AP Solutions for Financial Institutions and B2B Platforms

October 29, 2024
Crater launched artificial intelligence-powered accounts receivable (AR) and accounts payable (AP) solutions for banks, credit unions and B2B platforms. With these solutions, customers can offer white-labeled, embedded AR/AP products like...