The full Senate confirmed Jay Clayton as chairman of the Securities and Exchange Commission by a 61-37 vote this week. Industry groups were quick to applaud the former Sullivan & Cromwell partner’s appointment, with most expressing their view that...
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 Receives $400 Million From Credit Suisse Settlement
The NCUA has received $400 million from Credit Suisse for claims filed in connection with purchases of residential mortgage-backed securities by three corporate credit unions, the agency announced Wednesday. The agency said legal recoveries in connection with the...
Committee Defeats Democratic CHOICE Act Amendments to Beef Up CFPB
As the second day of the House Financial Services Committee’s markup of the Financial CHOICE Act unfolded, Republicans defeated amendments intended to bolster the CFPB. The panel then bogged down over two Democratic amendments; one would prohibit any rulemaking...
Cyberespionage & Ransomware Attacks on the Rise, Says Verizon
No one thinks it's going to be them. Until it is. And that's exactly what cybercriminals are banking on. Society is so infused with technology that our digital footprint is practically glowing. But if we're not careful to cover our tracks, our footprint can be used...
Sabre Rattled by Breach Affecting Card Data at 36,000 Locations
Sabre, the multinational travel industry titan, alerted hotels about an apparent breach of its software-as-a-service SynXis Central Reservations system that could affect 36,000 properties, customers' payment card data and personal details. KrebsOnSecurity reported...
House Democrats Force Delay in Votes on CHOICE Act Amendments
Deploying a little-used parliamentary maneuver, House Financial Services Committee Democrats on Tuesday stalled for more than three hours panel debate of the Financial CHOICE Act, Chairman Jeb Hensarling’s legislation to overhaul Dodd-Frank. The move was the...