Recent revelations show cybersecurity issues continue to plague financial institutions, businesses and consumers with the biggest potential breach possibly affecting some 550,000 to one million California auto loan company customers. Kromtech Security Researchers...
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?
House CHOICE Act An ‘Insult to Working Families:’ Warren
In a preview of Senate Democratic opposition to the House Republican Financial CHOICE Act. Sen. Elizabeth Warren (D-Mass.) on Friday called the bill an “insult to working families.” “This bill doesn’t solve a single problem,” Warren...
Longtime CU Employee Pleads Guilty to Embezzlement
A 62-year-old Missouri woman, who worked for nearly three decades at the $30.1 million Shelter Insurance Federal Credit Union, pleaded guilty Thursday to embezzling more than $230,000 in U.S. District Court. Debra L. Wenger of Columbia, Mo., worked as a teller and...
Apple Pay Edges Into Bill Pay
Credit unions and other bill pay providers may be facing new competition from Apple Pay, which has begun allowing some users to pay monthly bills with its iPhone payment technology. The move, announced back in January and rolling out this month, lets Xfinity customers...
Damage Control in a Viral, Oversharing World
It’s every organization’s worst nightmare: A controversial, perhaps embarrassing incident takes place, then hits the internet and news outlets at lightning speed. Panic sets in. What’s next? A drop in revenue? Layoffs? A complete shutdown? The best,...
State Banking Regulators Sue Feds Over Fintech Charter Proposal
State banking regulators are taking the Office of the Comptroller of the Currency to court over its proposal to establish a special-purpose national bank charter for fintech companies. In the lawsuit filed Wednesday in federal district...