Credit unions must be permitted to evolve, and that evolution should not endanger their tax exemption, CUNA President Jim Nussle said this week, in a letter to Senate Finance Chairman Orrin Hatch (R-Utah). Hatch recently wrote a letter to NCUA Chairman Mark McWatters...
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?
Sen. Warren Blasts Equifax for Lax Cybersecurity in Report
Sen. Elizabeth Warren, D-Mass., released the findings of a four-month investigation into how Equifax failed to protect the personal data of more than 145 million Americans. The new 15-page report containing the findings concludes...
E-Commerce Cyberattacks Grew During 2017 Holiday Season
ThreatMetrix, The Digital Identity Company, research identified 251 million fraud attempts, a 113% growth over 2016, during 2017’s fourth quarter. The report also revealed an increased attack volume originating from Russia. The Q4 2017 Cybercrime Report from San...
RiskIQ Alert Spotlights Bitcoin Security Threats
San Francisco-based digital-threat-management solutions provider RiskIQ’s in its analysis of cryptocurrency security menaces and tips, found more than 600 blacklisted bitcoin apps found across official app stores including Apple and Google. RiskIQ in an alert...
Understaffing Has Many CUs Outsourcing IT
The widening gap between understaffed IT departments and growing demands for better, more complicated data security is pushing many credit unions and community banks to outsource the management of their IT networks and security monitoring, according to new research....
Wave of Crypto Scams, Bitcoin Crash Said to Spook Card Firms
America’s largest banks had a myriad of worries in mind when they rushed this week to ban customers from using credit cards to buy cryptocurrencies. Bitcoin’s gut-wrenching slide was just one of the threats. JPMorgan Chase & Co., Bank of America Corp....