Lakeland, Fla.-based MidFlorida Credit Union has agreed to pay $2.375 million to settle a class-action lawsuit regarding its overdraft fee practices. The settlement requires MidFlorida CU, which has $2.9 billion in assets and 271,000 members, to pay members for...
Credit Union Industry News & Updates
The Credit Union & Banking worlds are changing faster today than they ever have. Keep informed about what’s going on in the industry.
WHAT’S GOING ON AT CREDIT UNIONS?
NCUA Bans 6 Former CU Employees
Six former credit union employees, including two CEOs, a commercial services manager, a teller and a senior member service representative were banned from participating in the affairs of a federally insured financial institution, according to a prepared statement...
NCUA Ignored Contract Rules, Leaving Agency Vulnerable to Fraud: OIG
The NCUA failed to follow basic rules in contracting for goods and services, leaving the agency vulnerable to fraud and abuse, the department’s Office of Inspector General said in an audit of agency activities between Jan. 1, 2011 and June 30, 2016. “We...
Second Home Markets Sizzle
When buyers are looking for a second home at a reasonable price, they’re likely to be looking in Tennessee, North Carolina, Florida and Maryland. Those states dominate the top 10 of a list of 100 cities identified Monday by ATTOM Data Solutions as the best...
What’s in a Name? For CUs, Everything If They Carry Malware
They carry names such as WannaCry, Petya, SamSam, Industroyer and GhostHook, not wrestlers or hurricanes, but malware threatening systems everywhere. Are credit unions fearful enough and how can they protect themselves? CU Times asked some experts how credit unions...
Affinity Plus FCU, Chartway FCU, Others Hire New Leaders
Just before heading out for the July Fourth holiday, HR departments at credit unions from coast to coast kept busy making new hires and promotions. Plus, two credit union service providers hired new executives. WEST The $4.9 billion Ent Credit Union in Colorado...