The Republican staff of the House Financial Services Committee has recommended that the panel cite CFPB Director Richard Cordray for contempt, saying that he has failed to give the panel documents related to the agency’s probe of Wells Fargo Bank. House...
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?
Debt-Retirement Asset Split Hits Workers in Their 40s
Debt-to-asset ratios tend to look similar for younger U.S. households whether or not the households have any retirement plan assets. For older households, lack of retirement plan assets correlates with terrible debt-to-asset ratios. Craig Copeland, an...
Florida Credit Union to Open M&A Group
The $1.5 billion Achieva Credit Union in Dunedin, Fla., said Wednesday it is forming a national mergers and acquisitions consulting group to help credit unions buy banks. Achieva Merger Services will assist credit unions and banks in identifying suitable...
CUs Seek Better Authentication Without Affecting Member Experience
Cybercriminals’ growing sophistication and catalogue of stolen personally identifiable information challenges many credit unions that seek better, quicker authentication solutions for online lending and call centers without affecting member experience....
Trump Endorses Provisions of CHOICE Act, May Push for More
The Trump Administration endorsed several provisions of House Financial Services Chairman Jeb Hensarling’s (R-Texas) Financial CHOICE Act on Tuesday, but made it clear that it considers the legislation as only the first step toward overhauling Dodd-Frank....
Man Sentenced for Stealing CU Auto Loans
An Atlanta man was sentenced to two years in prison for setting up a fake business to steal car loans that cost more than $167,000 in losses for three Virginia credit unions. U.S. District Judge Arenda L. Wright Allen also ordered Sheldon Franklin last month to pay...