According to PYMNTS Intelligence data, 95% of U.S. credit unions (CUs) are now wooing prospective Gen Z members. However, as “How Credit Union Innovation Can Drive Gen Z Engagement, makes clear, Gen Z consumers are a fickle bunch. In the past year, 42% of Gen Z CU members switched their primary financial institution (FI).
When I meet with collection teams, I always ask collectors, “How do you know you are doing well every month?” Their answers give me a good sense of how much leadership values performance and recognizes the team. If the response is something like, “Well, I am still here,” or “I got a bonus last month,” it indicates limited discussion regarding individual performance. However, if the answer is, “Let me show you my performance reporting or scorecard,” it shows that there is a level of performance management in place.
In a letter sent to all staff today, U.S. Secretary of Education Miguel Cardona outlined comprehensive steps the Department is taking to improve Federal Student Aid (FSA) for students, families, borrowers, and schools. These efforts will ensure FSA works better and addresses ongoing management and operational challenges. Specifically, the Department is taking the following steps:
The proposal seeks to make executive compensation arrangements more sensitive to risk and would require complex risk management programs to ensure compliance.
OAKLAND — California Attorney General Rob Bonta issued a statement today after the U.S. Supreme Court overturned a Second Circuit Court of Appeals decision in Cantero v. Bank of America. The Supreme Court found that the lower court failed to apply the proper standard for evaluating whether a New York state law that requires mortgage lenders to pay a 2% minimum interest rate on funds held in mortgage escrow accounts is preempted by the National Bank Act as applied to national banks.
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