Minn. Dept. of Commerce Chief Examiner Update: Minnesota Department of Commerce Chief Examiner, Aeton de Long-Hersh, recently shared with MnCUN staff that internal fraud at credit unions is growing, consistent with NCUA national tracking.
Federal Reserve Interchange Cap Proposed Rule: On October 25, the Fed Reserve Board issued a proposed rule to reduce two of the three factors to calculate the interchange fee cap.
Battle Against ‘Junk Fees’: Alongside the CFPB’s Fall Supervisory Highlights, NCUA chairman, Todd Harper, recently stated that credit unions must adjust their overdraft and non-sufficient funds fees policies to remain competitive with banks since many have eliminated these fees from their programs.
The Pulse is MnCUN's newsletter that keeps credit union professionals and board members updated on current news and information.