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...

Forever 21 Card Breach, Gmail Risks & Malvertising

The fashion retailer Forever 21 confirmed a breach involving unauthorized access to data from payment cards used at an undisclosed number of its stores due malfunctioning encryptions on POS devices. The Los Angeles-based company said the probe focused on transactions...

More Than a Dozen Credit Union Leagues Suing Equifax

At least 16 credit union leagues are now suing Equifax over the credit bureau’s massive data breach. Some of the newest include the Indiana Credit Union League on November 10, the Credit Union Association of the Dakotas on November 9, and the Association of...

Subprime Auto Delinquency Near Crisis Levels at Non-Bank Lenders

There’s a growing rift in car debt: Delinquent subprime loans are nearing crisis levels at auto finance companies, while loan performance at banks and credit unions continues to improve, data from the Federal Reserve Bank of New York show. Almost 9.7% of...

Survey Shows Payday Borrowers Have No Regrets

Despite the negatives overshadowing payday lending, often seen as predatory, primarily because of high interest rates that hover around 400%, one survey paints a different picture of payday borrowers. “It is thought that the nature of the payday loan market...