Collections news at your fingertips

The Federal Financial Institutions Examination Council (FFIEC) today published data on 2023 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 5,113 U.S. financial institutions, including banks, savings associations, credit unions, and mortgage companies.

On June 24, 2024, Neiman Marcus Group LLC filed a notice of data breach with the Attorney General of Maine after discovering that an unauthorized party was able to access a database platform used by Neiman Marcus to store sensitive information. In this notice, Neiman Marcus explains that the incident resulted in an unauthorized party being able to access consumers’ sensitive information, which includes their names, contact information, dates of birth, Neiman Marcus or Bergdorf Goodman gift card numbers, partial credit card numbers, employee identification numbers and the last four numbers of Social Security numbers.

Credit union (CU) members tend to value benefits such as personal service and a sense of community associated with CUs. Data reveals, however, that CU members increasingly show interest in self-service options and the convenience they provide. Like many digital-first consumers, CU members increasingly expect a seamless user experience across digital and physical channels. As a result, they choose providers that are up to speed on the latest innovations.

In this very competitive financial landscape, credit unions have no choice but to differentiate themselves to attract and retain members. A well-crafted, strategic marketing plan is essential to making this happen. It’s not all inclusive, but here’s a peek behind the curtain of how we craft our credit union strategic marketing plans, walking you through a plan that aligns with your credit union’s mission while also driving growth and member engagement.

The Delaware Department of Justice’s Consumer Protection Unit unveiled a new personal data privacy portal designed to assist parents, consumers, and businesses in navigating the upcoming Delaware Personal Data Privacy Act (DPDPA). The act, set to take effect on January 1, 2025, introduces stringent guidelines for handling personal data, granting Delawareans greater control over their information.