CUNA: mobile financial services could help underbanked

first_img 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr As mobile technologies evolve and become a way for underserved populations to access financial services, the Credit Union National Association has written to the Consumer Financial Protection Bureau (CFPB) to urge continued coordination with payments regulators. The letter acknowledges that such services can help with member access to financial services, but also notes implementation costs and regulatory burdens that currently exist.“The CFPB should minimize regulatory burdens associated with offering mobile financial services, to ensure that credit unions and other providers are able continue to provide these innovative services to consumers,” reads the letter, signed by CUNA Assistant General Counsel Dennis Tsang. “The agency should also recognize that implementation costs to provide mobile services can be quite significant for credit unions and other smaller financial institutions.”A Federal Deposit Insurance Corp. white paper from April estimated that, of the underbanked and unbanked households, almost 90% had a mobile phone and 71% had a smartphone. CUNA believes that these populations could gain enhanced access to credit union services through these devices and phones.Mobile financial services offered by credit unions can include a mobile website or downloadable app and the use of text messaging to check balances, account history and transfer funds.CUNA’s 2014 Technology Spending Survey showed, that of the 200 credit unions that responded to the survey, nearly 60% offer mobile financial services and another 28% percent said they plan to do so within the next two years. continue reading »last_img read more

Gophers win over New Hampshire in Whalen’s first game as coach

first_imgGophers win over New Hampshire in Whalen’s first game as coachLindsay Whalen coached the Gophers to a win in their season opener in front of 14,625 fans.Tony SaundersCoach Lindsay Whalen prepares to blow the whistle during Gopher women’s basketball’s annual exhibition versus the men’s scout team on Saturday, Oct. 20 at Williams Arena. Babatunde JinaduNovember 10, 2018Jump to CommentsShare on FacebookShare on TwitterShare via EmailPrintThe second Lindsay Whalen era of Gophers’ women’s basketball got off to a strong start Friday night.Minnesota pulled out a 70-47 win over New Hampshire in front of a sold-out crowd at Williams Arena. It was Whalen’s highly-anticipated first game as head coach and her first time in the Barn as a member of the Gophers in 14 years.It took the home team a few moments to become comfortable playing in that environment.“I was nervous.” said senior Annalese Lamke. “It was really exciting just to run up that tunnel and see the stands full because that was kind of the first time that we’ve seen that. I had my chest pounding a little bit to see that many people in the stands, but it was easy as soon as the ball tipped.”Once settled, it became evident that the energy of Minnesota’s new man-to-man defense can live up to the hype of the crowd that came to watch it.“I wasn’t really nervous at all,” said senior Kenisha Bell. “I was more excited that we got more people to come out. We’ve been working hard, so we were able to show people what we’ve been doing all summer…. I just thought it was pretty cool that we actually got a lot of people out here.”Coming off of a 19-win season, the Wildcats hung with the Gophers in the first half. The score was 16-11 in favor of Minnesota after the first quarter; however, the Gophers shut out the Wildcats for nearly five minutes to begin the second quarter, and the Minnesota lead stretched to 11 points by halftime. Taiye Bello dropped a double-double with 14 points and 14 rebounds in the opener. Meanwhile, Lamke was a force in the paint, scoring 21 points on 75 percent shooting. “She’s the first one in the gym and she’s one of our hardest workers and leader on the team. For her to be putting the time in, to have a night like this is special,” said Whalen about Lamke’s effort. “I think tonight she showed, when she has poise in there and she’s patient, she’s able to make finishes and take contact.”In the second half of the game, Minnesota continued to use the crowd to their advantage. Neither team shot exceptionally well in the game but the Gophers had all of the momentum from start-to-finish, and a record 14,625 screaming fans were a large reason for that.After three quarters the lead had expanded to 48-29 in favor of Minnesota. The Gophers continued to build up the lead from 19 at the end of three quarters to 23 points as the game finished 70-47. On the court after the game, Whalen addressed the stadium as fans walked out. “As a player it was the greatest honor to play in front of crowds like this when I played here, and so I’m just thankful that our players got to experience this tonight,” Whalen said. “These players work so hard, our coaches work so hard, every day…. We’re going to do everything we can to make the entire state of Minnesota proud of our program by how hard we work and how we play … we’ll see you next weekend.”Minnesota’s next home game is on Nov. 17, but before that they will travel to Cincinnati, Ohio to take on the Xavier Musketeers on Nov. 14.last_img read more