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?

Renewal of Agency Information Collections for Comments Request: Proposed Collections

AGENCY: National Credit Union Administration (NCUA). ACTION: Notice and request for comments. SUMMARY: The National Credit Union Administration (NCUA) will submit the following information collection requests to the Office of Management and Budget (OMB) for review and...

Corporate Credit Unions

AGENCY: National Credit Union Administration (NCUA). SUMMARY: The NCUA Board (Board) is proposing to amend its regulations for corporate credit unions by removing the requirement that a corporate credit union's asset and liability management committee (ALCO) must have...

Guidelines for Safeguarding Member Information

AGENCY: National Credit Union Administration (NCUA). SUMMARY: The NCUA Board (Board) is proposing to remove Appendix A to part 748, guidelines for safeguarding member information, from the Code of Federal Regulations (CFR). Appendix A was issued to satisfy the NCUA's...

Millennials Overconfident & Underprepared in Managing Money

Millennials are overconfident and underprepared for managing their money, according to new research from the Denver-based National Endowment for Financial Education. Only 24% of the millennial respondents (23-to-35-year-olds) showed basic financial literacy in...

Arby’s Breach Put Credit Union Cardholders at Risk

Another breach at a fast-food restaurant, this time at Atlanta-based restaurant chain Arby’s, once again puts credit union cardholders at risk, in an incident reminiscent of the Wendy’s hack in 2016. According to cybersecurity expert Brian Krebs, sources...

CU Employees Becoming Commissioned Fraud Investigators

All credit unions have to battle fraud these days, but in Spokane, Wash., a few credit unions are taking the fight to a new level — some of their employees are becoming commissioned fraud investigators with the local police department. The move — done in...

Voters Favor Increased Regulation of Financial Institutions: Poll

An increasing number of Americans favor increased regulation of financial institutions despite efforts by credit unions and others who contend they are over-regulated, according to a new poll. In the poll, conducted Feb. 2-6 by Quinnipiac University in Connecticut,...