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?

Third-Party Servicing of Indirect Vehicle Loans

( printed page 14484) AGENCY: National Credit Union Administration (NCUA). SUMMARY: The NCUA Board (Board) is seeking comment on a proposed rule that would remove the NCUA's unnecessarily prescriptive regulation regarding third-party servicing of indirect vehicle...

Advocacy in Action – NACUSO

Why NACUSO Shows Up in Washington Each year, thousands of credit union leaders gather in Washington, D.C. for the Governmental Affairs Conference (GAC). While the conference is known for its energy, scale, and tradition, at its core GAC represents something far more...

Sunshine Act Meetings

This site displays a prototype of a “Web 2.0” version of the daily Federal Register. It is not an official legal edition of the Federal Register, and does not replace the official print version or the official electronic version on GPO’s govinfo.gov. The documents...

U.S. Women Carry Higher Student Debt Than Men: Study

Some say designating a problem a “women’s issue” trivializes it — as if it’s only of interest to half the population of the U.S., and not to their male counterparts. In the case of student loans, other problems faced by women...

ABA Files for Summary Judgment in Legal Battle Over FOM Rules

Saying that the NCUA’s new Field of Membership rules are “arbitrary, capricious, an abuse of discretion” the American Bankers Association has asked a federal judge to nullify the regulations. In asking U.S. District Judge Ketanji Brown Jackson to...

In Memoriam: Paul Simkins, Credit Union Pioneer

When Paul Simkins left his bank job to become a credit union branch manager, he admitted that “service to others” was not on his mind. After learning and experiencing the difference between credit union and banks, however, Simkins became known as one of...

Machine Learning Teaching CUs About Security & Optimization

The irony is not lost on how nonhuman interaction using machine-learning capabilities in financial technology could supply a more personalized member experience, as well as added security and operations performance. The usage of AI, and its subset machine learning, is...

Another CU Sues Chipotle Over Alleged Data Breach

A second credit union is suing Chipotle for damages related to the fast-casual restaurant company’s recent alleged data breach. Benton, Ark.-based Alcoa Community Federal Credit Union filed a class-action suit against Chipotle on May 26 in a Colorado District...

What Tech Traps Are Examiners Looking For?

Almost half of financial organizations reported being examined by regulators in the last 12 months, according to Smarsh’s 2017 Electronic Communications Compliance Survey, and examiners are looking more closely at firms’ communications. However, although...