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...
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?
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...
Judge Keeps Veridian CU’s Data Beach Suit Against Eddie Bauer Alive
A Washington state District Court judge has rejected retailer Eddie Bauer’s request to throw out a class-action suit brought by Veridian Credit Union in the wake of the company’s 2016 data breach. Though the judge did grant some parts of Eddie...
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...
House, Senate Republican Plans Preserve CU Tax Exemption—So Far
Although the House and Senate Republican tax reform bills contain huge differences, the two bodies agreed on at least one issue—that credit unions should remain tax exempt. Senate Republicans released the outlines of their bill on Thursday. That same day, the...
Compensation or Validation: Which Matters More to Employees?
Having a purpose at work – and being validated for that by both managers and peers – trumps even pay in the minds and hearts of workers, according to a report from Globoforce’s WorkHuman Research Institute, “Bringing More...