Just 10 days after it was publicly revealed that the $28.7 million Louisville Metro Police Officers Credit Union was under investigation for suspected internal theft, the Louisville, Ky., cooperative was conserved by the NCUA Friday. “The NCUA placed Louisville...
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?
Former CU Manager Accused of Stealing Savings From 91-Year-Old Member
While a former branch manager was giving financial advice to a 91-year-old member, she allegedly stole more than $125,000 from that member’s savings account. Claudette Retana, 66, who retired earlier this year from the $9.5 billion Security Service Federal...
State AGs Say They Will Redouble Enforcement Efforts if CFPB Backs Down
Democratic state attorneys general say they will redouble their consumer and financial services enforcement efforts if the CFPB slows down its enforcement. “If incoming CFPB leadership prevents the agency’s professionals from aggressively pursuing consumer...
401(k) Tax Changes Would Slash Retirement Savings
While the House and Senate tax bills were taking shape, lawmakers floated some changes to 401(k) contributions. A survey conducted around that time shows just how deeply those changes would have affected savers. Three-quarters of nonretired investors in a...
QCash Platform Adds Enhanced Features for Small-Dollar Loan Offerings
Olympia, Wash.-based QCash Financial, a CUSO providing automated, cloud-based, omni-channel small-dollar lending technology for financial institutions, announced the launch of the latest version of its digital lending platform. According to QCash its newest platform...
CUNA: Mulvaney Is Properly Appointed to Lead CFPB
Mick Mulvaney is the properly appointed interim director of the CFPB, CUNA argued in a brief filed Tuesday in a suit challenging the director’s appointment. “CUNA and its members have a strong interest in ensuring that the CFPB at all times operates under...