CU Town Hall Episode 110: The 2024 Regulatory Gauntlet
Join us for an insightful discussion on the recent moves by the Consumer Financial Protection Bureau (CFPB) and the Federal Reserve, and the implications for areas like open banking and interchange. Glen, John, Mike, and Lou will provide expert perspectives on the regulatory landscape, exploring its impact on the financial industry and beyond.
Credit Union New Year’s Resolutions
John shares the resolutions for 2024 he’d make as the leader of a credit union. Also, Glen discusses Klarna’s bizarre new BNPL subscription model, updates the Fed’s efforts to reduce debit interchange, and offers a differing view on data sharing.
New Fed Research Highlights COVID’s Impact on Payments
We’re all aware the pandemic has altered Americans’ shopping and payments behavior- the remaining questions are how, and by how much. There are plenty of good sources to track pockets of data- the PSCU Payments Index and Mastercard’s SpendingPulse immediately come to mind. For an authoritative and comprehensive view, however, the Federal Reserve remains the gold standard.
FedNOW… in 2023? The Allure of Instant Payments
The Federal Reserve stirred the pot in 2018 when it requested comments on its offering a real-time payments network, since branded as FedNOW. Credit unions and community banks encouraged the Fed’s entry into the real-time market as a way to ensure widespread access to this important new capability.