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If you're looking for a unique benefit solution that will provide your financial institution's key executives with life insurance and supplemental retirement benefits, split-dollar life insurance fits the bill perfectly.

This is an important alert to inform you about a scheme that could affect the payments industry.

"Unlimited Operation" Schemes Threaten Financial Institutions

Unspecified reporting obtained by the FBI indicates cyber criminals are planning to conduct a global automated teller machine (ATM) cash-out scheme in the coming days, likely associated with an unknown card issuer breach and commonly referred to as an “unlimited operation.”

This week, emerging market investors were greeted by a plunging Turkish Lira, which as of this writing is down more than 15% relative to the major developed market currencies (see chart below). As carry trades are unwound as investors head for safety and lick their wounds, we are reminded of the volatility that erupted in emerging market currencies between 1998 and 2002.

One of the main sources of wealth among American families is homeowner equity. According to a report from the Federal Reserve¹, household net worth in this country rose to a new record, hitting $98.74 trillion. But what does record-breaking homeownership mean in today’s world and how will it affect your financial institution? Increasing wealth from homeownership is positive for our economy, but one lingering concern is rising interest rates and increased home prices. We know that these numbers are projected to rise which could change consumer buying habits, i.e. homeowners may opt to renovate their home rather than sale and purchase a new one. By increasing your focus on home equity lending, you can provide your customers with options that may benefit them and their current situations.

By now, you've probably heard the sad auto industry news, that vehicle sales are down this year and are not expected to rebound anytime soon. Basically, auto manufacturers did too good a job in recent years, building cars that last longer than ever and still run properly. As a result, consumers are not forced to replace their vehicles as soon or as often as in years past.

Of course, unfortunately for the auto lending industry, as auto sales stall, so do lending sales.

As you may have heard, there’s a new tax that affects tax-exempt entities, including credit unions. In response to complaints from taxed corporations that tax-exempt organizations are enjoying preferential treatment, the 2017 Tax Act included a 21% excise tax on compensation exceeding $1 million paid to specific employees of tax-exempt organizations.

Collections plays a critical a role in your institution’s financial health. Limited resources, personnel, and time are common denominators for many collections departments. I've worked with financial institutions to streamline their collections operations for years, and we typically see operations afflicted with the same challenges and obstacles. As the economy and consumer sentiment continue to improve, financial institutions can expect to see lending increase.

These days, we consistently hear about how strong the U.S. economy is, with home values quickly increasing and low unemployment creating lucrative opportunities for workers. Despite that, many Americans are struggling financially and are unprepared not only to reach far-off goals like retirement but even to cover standard life expenses and debt management.

This is an important notification to inform clients of a scam affecting the payments industry.

What is a romance scam?

A romance scam is perpetrated via the internet and predominantly targets older widowed or divorced women by exploiting their emotional vulnerabilities. This crime can be committed from anywhere in the world, making it difficult to catch the perpetrator.

The shortage of appraisers has been an ongoing concern within the real estate industry. According to a National Association of Realtors (NAR) survey conducted last year, there are three major factors resulting in the appraiser shortage.