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...
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?
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,...
D.C. Memo Reveals Plans for Regulation Rollback Gutting CFPB’s Power
The NCUA board would remain at three members and the CFPB’s powers would be even more severely curtailed, under changes to a broad Dodd-Frank overhaul bill being contemplated by House Financial Services Chairman Jeb Hensarling (R-Texas). The three-member board...
Cloud Storage Site Phishing Increasing, But FIs Still the Top Target
Cloud storage sites will likely overtake financial institutions as the top phishing attacks targets, marking a major evolution in phisher targeting according to PhishLabs’ “2017 Phishing Trends & Intelligence Report.” The Charleston, S.C....

