A former credit union board chair and CEO and a board member face decades in prison for their roles in taking control of a New Jersey credit union and using it to conceal an illegal Bitcoin operation that ran tens of millions of dollars in ACH transactions. Last week,...
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?
The Intersection of Wall and Main
For decades, credit unions have sold themselves as being different than other financial institutions. Their corporate structure as cooperatives made them different in form but the difference went beyond just that. They were smaller, dedicated in philosophy and...
Regulatory Hurdles Too High for Potential New Credit Unions
Efforts to encourage new credit unions are hamstrung by a 17-step chartering process and burdensome regulations—hurdles that are too high for many potential financial institutions to clear, the president of a New York City credit union told a House subcommittee...
Texas Judge Denies Emergency Request to Block DOL Fiduciary Rule
The judge overseeing the lawsuit filed by nine plaintiffs in Texas against the Department of Labor’s fiduciary rule denied an emergency request by the groups to stop the rule from taking effect while they take their case to the U.S. Court of Appeals...
‘Upscale Millennials’ More Likely to Adopt Usage-Based Insurance
New research has found that nearly a third of millennials — those born between 1982 and 2000 — qualify as urban professionals earning in excess of $75,000 per year, according to Nielsen. That represents approximately 24 million...
8 Money Problems Financial Education Could Have Avoided
Companies increasingly realize that employee financial wellness is crucial to their bottom lines, and to employees stressed over money—particularly as they approach retirement knowing their savings are falling far short. A study at TradeSchools.net...