Thousands of American companies including credit unions that do business with European customers need to reckon with EU’s General Data Protection Regulation, which goes into full effect a year from now. The GDPR changes the handling of personal and corporate...
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?
Former Michigan CFO Sentenced By State Judge
Michael A. LaJoice, a former CFO who embezzled more than $18 million from a Michigan credit union, was sentenced to seven to 20 years Monday by an Oakland County circuit court judge. The state’s sentence will reportedly run concurrently with LaJoice’s...
NCUA Receives $445 Million From UBS in Mortgage Settlement
The NCUA has received $445 million from UBS to settle claims in connection with the sale of faulty residential mortgage-backed securities to two corporate credit unions, according to the agency. “This latest recovery, together with prior recoveries, has helped...
Millennials Love Snapchat, but Skip the Ads
While many millennials are hanging out on Snapchat, they could care less about the ads, according to a survey 3,000 adults conducted by Fluent LLC, a New York City-based marketing firm. What ’s more, millennials, say Snapchat is just a fad, and they expect to...
CDFIs Get a Budget Boost, Despite Trump’s Threat to Cut
Congressional negotiators this weekend reached a FY2017 funding deal that would provide a $15 million increase for the Community Development Financial Institutions program, despite President Trump’s desire to kill it. The funding measure, totaling some 1,600...
Altura CU, LAFCU, CUES Hire and Promote
This past week, seven credit unions revealed new hires, promotions and appointments. Plus, CUES and CU Members Mortgage added new talent to their executive teams. WEST The $640 million AltaOne Federal Credit Union in Ridgecrest, Calif., hired Gary Petersen as the new...