This and That
Posted by Anthony Demangone
Risky Business. NCUA issues Letter to Credit Union 03-CU-10, to share a Supervisory Letter concerning concentration risk. What is a Supervisory Letter? It is guidance that NCUA sends to its examiners. That should get your attention. NCUA wants credit unions to undestand the level of concerntration risk they have in their balance sheet. The real meat is found in the enclosure (the actual Supervisory Letter). It is 11 pages of concentration risk management love.  I hope, though, that not having all of one's eggs in one basket does not apply to Easter Baskets. And chocolate eggs.
Notting Hill, Starring Hugh Grant. NCUA issues Letter to Credit Unions 04-CU-10, to announce the 2010 Community Development Revolving Loan Fund Technical Assistance Grant Program. More than one million dollars is up for grabs. NCUA strongly encourages credit unions serving low-income memberships to consider the advantages of the programs and to apply for the grants.
The Money Pit. If you listen to the radio, you're likely to hear an ad that promises consumers that banks and credit unions are just chomping at the bit to settle their credit card debt for pennies on the dollar! The FTC issued this guidance to inform consumers that debt relief is a bit more complicated.
My Fair Lady. The FTC has issued its annual Fair Debt Collections Practices Act Report to Congress. The report provides some background information, but it also talks about common consumer complaints that made it to the FTC. While the FDCPA doesn't apply to FCUs in many cases, the report could be a valuable read for your collections team.
Yeah, I need to go to the movies. It has been a while. And here's one of the reasons why...
 