Rep. Ed Royce (R-Calif.), who, as a member of the Financial Services Committee has sponsored major credit union-related legislation, has announced he will not seek reelection this year. Royce, chairman of the House Foreign Affairs Committee, is “term...
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?
Vexed Judge Orders Arrest Warrant for Former CU CEO
A vexed federal judge issued an arrest warrant for a former credit union CEO who failed to show up at his sentence hearing Monday for bank fraud and attempted brank fraud. Sean Jelen, 35, the former president/CEO of the merged $227 million Valor Federal Credit Union...
Biometric EMV Card for Contactless Payments Hits Market
Digital security firm Gemalto has launched EMV card technology that uses fingerprints instead of PINs to authenticate users at the point of sale, according to a company announcement. To use the technology, customers insert their cards into the payment terminal and...
Idaho CU Inks $10 Million Naming-Rights Deal
Artist Rendering of Plans for Idaho Central Credit Union Arena include the main Vandal home court. Chubbuck, Idaho-based Idaho Central Credit Union has agreed to pay $10 million for the naming rights to a new basketball arena being built at the University of Idaho....
New York Credit Union: CFPB’s Mulvaney Already Hurting Us
Acting CFPB Director Mick Mulvaney already has instituted changes at the agency that threaten the stability of the Lower East Side People’s Federal Credit Union, the credit union says in new court documents seeking Mulvaney’s ouster. “Mr....
CUs React to Feds’ Decision Threatening Their Lucrative Pot Business
Credit unions that serve the marijuana industry are not pressing the panic button yet in reaction to U.S. Attorney General Jeff Sessions decision to reverse former President Barack Obama’s policy that shielded legalized pot businesses from federal prosecution....