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?

Anti-Money Laundering and Countering the Financing of Terrorism Programs

( printed page 18304) AGENCY: Office of the Comptroller of the Currency, Treasury; Federal Deposit Insurance Corporation; and the National Credit Union Administration. ACTION: Notice of proposed rulemaking. SUMMARY: The Office of the Comptroller of the Currency (OCC),...

Chartering and Field of Membership

( printed page 17769) AGENCY: National Credit Union Administration (NCUA). SUMMARY: The NCUA Board (Board) proposes to amend the associational common bond provisions of its chartering and field of membership (FOM) rules. The proposed FOM amendment would clarify that...

Sunshine Act Meetings

This site displays a prototype of a “Web 2.0” version of the daily Federal Register. It is not an official legal edition of the Federal Register, and does not replace the official print version or the official electronic version on GPO’s govinfo.gov. The documents...

Cleveland Fed Removes Report on Marketplace Lending to Clarify

A report by the Federal Reserve Bank of Cleveland that slammed the peer-to-peer lending industry has been taken offline for clarification after researchers received inquiries about their methodology. The authors of the Nov. 9 report “have received several...

FIs Hit by $30 Million Mortgage Fraud Scheme

A New Jersey attorney and a real estate agent were charged with allegedly running a massive mortgage fraud scheme that caused more than $30 million in losses for at least five financial institutions, according to a criminal complaint filed last week in U.S. District...

Top Fintech Innovators Named

China tops the list of fintech innovators, nabbing the top three spots and five of the top 10 on the 2017 Fintech 100 list. According to KPMG International, the list, which was compiled by Fintech Innovators, a collaboration...

Credit Unions Appoint New CEOs

Credit unions in Michigan, Delaware and Oregon named new CEOs earlier this month. In Michigan, Stephen P. Grech was appointed president/CEO of the $195 million Monroe County Community Credit Union in Monroe, which serves 28,355 members. He succeeded Mike Newman who...

Belco Community CU, SkyOne FCU, Ent CU Promote Employees

Numerous credit union employees will begin the Thanksgiving holiday with new job titles, as five credit unions announced new hires and promotions this past week. Plus, the Cooperative Credit Union Association presented an award of excellence. WEST Following the...

ADA Cases Spread to Georgia Credit Unions

The spate of ADA lawsuits against credit unions spread from Virginia to Georgia this week, where at least two more credit unions have been sued over the accessibility of their websites, according to court documents. Those filings show that Hapeville, Georgia-based...