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How Alternative Data in Credit Is Reshaping Risk and Opening Doors

Subramanian Narayanaswamy, Financial Services Risk Management Executive Credit is the bloodline of our economy. Yet, for 22 million Americans in 2022 per TransUnion, that lifeblood flows sluggishly – if at all. These thin- or no-file consumers are often invisible to traditional credit scoring models despite potentially being reliable borrowers. But a decisive shift is underway, […]

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NextLEVEL Compliance Announces Jovilyn Herrick’s Return as CEO

NextLEVEL Compliance is announcing the return of Jovilyn Herrick as the company’s CEO. Herrick founded NLC in 2017, laying the groundwork for the company’s development. After a successful five-year stint as the senior director of compliance client solutions for a compliance technology and consulting firm, she is returning to the NLC helm. Herrick, a certified compliance expert,

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Amount Lauches New Enhancements to Help Grow Deposits Faster

Amount today announced a suite of powerful platform enhancements designed to give banks and credit unions greater control over deposit growth, risk management, compliance, and credit decisioning. With expanded tools to streamline account opening and optimize deposit strategies, these updates empower financial institutions to attract and onboard customers faster while maintaining the flexibility and oversight

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Finding the Balance with Using AI

AI presents many great opportunities for credit unions, but it also comes with its fair share of risks. AI can be very helpful and save time on certain kinds of tasks, but there are challenges when it comes to ensuring that everything regarding a credit unions’ use of AI is in compliance. In order for

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AUX Onboards Six New Clients To Close Out 2024

Aux is pleased to announce the addition of six new clients, highlighting the growing demand for its expertise in accounting, CFO consulting and compliance. The latest partnerships include: CFO Services: EDUCATION FIRST FCU GFA FCU RVA FINANCIAL SECURITYPLUS FCU Accounting and CFO Services: ARISE COMMUNITY CU Compliance Services: AMPLIFY CU These new collaborations reinforce Aux’s

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Scienaptic AI CUSO Secures Strategic Investment from Four New Partners

CUSO of 10 Strategic Investors Empowering Credit Unions with AI for Inclusive Loan Growth, Risk Management, and Compliance Scienaptic AI announces that its Credit Union Service Organization (CUSO) has secured strategic equity investments from four new partners. The coalition now includes three more credit unions clients—Alliance Catholic Credit Union, Partner Colorado Credit Union, and Advantage

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CDFI Fund Reminder: Annual Compliance, Certification and other Reporting Obligations

Are you the Authorized Representative of either a Certified Community Development Financial Institution (CDFI) or an organization that has received a Community Development Financial Institutions Fund (CDFI Fund) Award, Assistance and/or Allocation? If so, to ensure compliance with your Award, Assistance and/or Allocation Agreement(s), you must complete and submit the annual report(s) specified in these

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New Partnership Established Between Synergent and Superior IRA & HSA

Superior IRA & HSA provides an integrated platform that simplifies IRA and HSA administration, compliance, and reporting. Synergent® is pleased to announce a new vendor partnership has been formally established with Superior IRA & HSA. As a key partner, Superior IRA & HSA offers an integrated platform that makes Individual Retirement Arrangement (IRA) and Health

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CFPB Orders Navy Federal Credit Union to Pay More Than $95 Million for Illegal Surprise Overdraft Fees

Agency bans nation’s largest credit union from charging certain overdraft fees going forward Today, the Consumer Financial Protection Bureau (CFPB) took action against Navy Federal Credit Union for charging illegal overdraft fees. From 2017 to 2022, Navy Federal charged customers surprise overdraft fees on certain ATM withdrawals and debit card purchases, even when their accounts

CFPB Orders Navy Federal Credit Union to Pay More Than $95 Million for Illegal Surprise Overdraft Fees Read More »

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