November 15, 2016
Another expert is recommending that credit unions consider plans for adjusting credit card programs, possibly moving from a fixed to variable rate and adopting risk-based pricing.
Cindy Williams, vice president of regulatory compliance at PolicyWorks, noted that with credit card competition significantly increasing, rising rates on their way, and the fact that card portfolio pricing does not turn on a dime due largely to compliance concerns, credit cards demand attention now.
Williams said that PolicyWorks has been receiving calls from credit union compliance officers to investigate their card portfolio options.
Read the full article on CUToday.