Eight trends that will impact credit unions in 2016

first_img 16SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr I like to use my final blog of the year to look ahead to the trends that will most impact the industry next year.  Here is my list of educated guesses.Accounting for the next disaster.  The Federal Accounting Standards Board is poised to finalize accounting standards that will directly impact how credit unions and banks account for potential loses.  The proposal could have a bigger impact on credit unions than the Risk Based Capital rules, so get your accountant on speed dial.Overdraft Overhaul. Are you ready to have your members opt in to all overdraft services?  How about limits on the size and number of overdraft fees?  What about new disclosures?  All of these are possible when the CFPB formally looks to limit the use of overdraft services this year.China Syndrome. World events have had more and more of an impact on the economic environment in which credit unions operate.  My nominee for this year’s Greece is China.  If the slowdown in the Chinese economy ends up being  more sustained and severe than pundits currently suspect we could be looking at a recession in the U.S. and political instability in an increasingly nationalistic China for years to come.  In a worst case scenario think Putin on steroids. continue reading »last_img

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