LAS VEGAS – It’s no secret that consumers are constantly shifting their behaviors and gravitating toward financial services providers that make their lives easier, more convenient and more affordable. At CU Direct’s Drive conference Wednesday, CU...
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 Loses Bond Insurance Appeal from $72M Fraud Case
A federal appeals court ruled against the NCUA last week in a bond insurance claim dispute stemming from the $72.5 million fraud case of the St. Paul Croatian Federal Credit Union. The U.S. Court of Appeals for the Sixth Circuit on May 18 affirmed a lower court...
McWatters to Cordray: Decrease Regulatory Burden on Credit Unions
Acting NCUA Chairman J. Mark McWatters is asking the CFPB to use its powers to exempt credit unions from certain agency rules, particularly mortgage reporting requirements. In a Wednesday letter to CFPB Director Richard Cordray, McWatters also asks the agency to issue...
DDoS Attacks Unpredictable, Consistently Target Financial Sector
Distributed Denial of Service attacks remain unpredictable and persistent, and vary widely in volume, speed and complexity according to Reston, Va.-based Verisign’s DDoS Trends Report for the first quarter of 2017. While Verisign saw a 23% decrease in DDoS...
Cost of CU Tax Exemption Jumps 32% in Trump Budget
The estimated 10-year cost of the credit union tax exemption jumped a whopping 32.3% over a year ago, according to the Trump Administration budget released Tuesday. The administration’s budget offered no explanation for the jump from $26.75 billion in Fiscal...
Preparing for the Member of 2025: CU Direct’s Drive
LAS VEGAS – Credit unions must implement strategies now that will adapt to consumers’ changing needs, Sundeep Kapur stressed at CU Direct’s Drive conference in Las Vegas Tuesday. A big part of that is redesigning branches in a manner that will...