This is a roundup of industry news and links for the week of July 24th that have informed, entertained, and inspired us.
Here’s our weekly roundup of industry news:
CFPB to act fast on payday rule ahead of likely Cordray exit – The Consumer Financial Protection Bureau is moving quickly to release a rule regulating payday lenders by the fall in a final push before the widely expected departure of Director Richard Cordray.
How will autonomous vehicles impact your credit union? – Few would claim that they could have predicted the impact a technology company (Uber) would have on credit union balance sheets. If you envisioned this future – well played! For the rest of us, it was a surprise as Uber took off and destroyed value in taxicab medallions, a hit credit unions took on the chin. The biggest one, Melrose Credit Union – a $1.7B (yes billion) dollar credit union, was conserved in February of 2017 because of the valuation problems with their taxicab medallion loans.
After 21 Years, Google Homepage Is Getting A Facelift – Google’s iconic homepage has been around longer than Harry Potter. It’s old enough to drive, drink or fight in the Army. Today’s teens and young twenty-somethings grew up knowing “Google” not as a numeric value – a “1” with 100 zeroes after it – but as a verb, something they do when they don’t know something. Now, for the first time in more than 20 years, that homepage is changing.
How automation can help transform the financial services landscape – Today’s financial services institutions are under increasing pressure. Growing consumer confidence, regulatory change and the rise of fresh-faced fintech start-ups means competition in the space is stiffer than ever before. As a result, businesses are having to work harder and smarter to attract and retain clients.
The ‘Bionic Future’ of Retail Banking – Banking providers must raise service levels, profitability and competitiveness by efficiently and effectively fusing digital technologies with personalized human interactions.