A former CEO of a West Virginia credit union who embezzled more than $156,000 over three years was sentenced to one day in jail, while a teller who worked for an Alaskan credit union for few months and stole more than $100,000 will serve one year in federal prison....
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?
6 Tax Season Cybersecurity Risks to Avoid
Tax-related themes are frequent lures for phishing emails and websites. Sunnyvale, Calif.-based Proofpoint revealed cybercriminals expanded their attack methods this tax season to include ransomware, malware, malicious documents, and social engineering. In a blog the...
Consumers Still Struggling to Open Accounts Digitally
Opening a checking account using only a smartphone or tablet is still a pipe dream for most users, according to new research from Javelin Strategy & Research. According to a study of nearly 1,400 people who successfully applied for checking accounts at the...
NAFCU Calls on Financial Stability Council to Void CFPB Rules
NAFCU is asking the Financial Stability Oversight Council (FSOC) to step in and void new regulations issued by the CFPB. In a letter to Treasury Secretary Steven Mnuchin NAFCU President/CEO B. Dan Berger requested that FSOC use its authority under Dodd-Frank to stay...
Former CEO Faces Felony Charge
A former president/CEO of a merged Nebraska credit union will face a federal judge March 14 on six felony bank fraud charges. According to an indictment filed by federal prosecutors last week, Christine Darley, 44, allegedly embezzled more than $535,000 from the $3...
CFPB Unknown & Fighting for Its Life
If ignorance is bliss, lots of Americans are humming a happy tune. Specifically, 81% of Americans polled by CreditCards.com did not know enough about the Consumer Financial Protection Bureau to have an opinion about it, even though the five-year-old...