You wouldn’t expect Davie County, N.C. to be the center of a high stakes political battle. And you wouldn’t think that freshman Rep. Ted Budd (R-N.C.), a small business owner who still lives on the farm on which he was raised, would be the target of...
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?
When Rules Don’t Apply
“Rules are meant to be broken.” I cannot find the origin of that statement. But, whomever it was, they were right. In today’s world, I could probably just emphatically say that I came up with the phrase. But I won’t. During the daily routine of...
CU ATMs Safe From Wannacry Hack, for Now
The now infamous Wannacry ransomware attack has affected thousands of computers and numerous organizations around the world, but U.S. credit union ATMs are relatively low on the threat list, pros say. The ransomware, also known as WCry or Wanna Decryptor, has...
CULedger Unveils Blockchain-Like Tech for Call Centers
A new proof-of-concept demonstration showcased last week by research organization CULedger suggests blockchain-like technology could soon wield significant power in verifying identities and clamping down on fraud at credit union call centers. The prototype hinges on...
Lawsuit Alleges Wrongful Termination by CU Based on Sexual Orientation
A former assistant branch manager claims in a lawsuit that she was fired from the $829 million Park Community Credit Union in Louisville, Ky., because she is gay. In a lawsuit filed in Jefferson Circuit Court on May 12, Penelope Hudson alleges she was...
Bankers Need A Reality Check
Once again, the American Bankers Association asserts that regulatory relief for credit unions represents a threat to the $16.2 trillion banking industry, coining a new catchphrase – “unsanctioned growth” – to characterize the alleged hazards of...