A key Senate Democrat said he intends to maintain the push for bipartisan banking regulation overhaul legislation even though talks between Senate Banking Committee leaders have broken down. “I still believe we have an opportunity to negotiate a bipartisan...
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?
CU Trades Praise Trump for Nullifying CFPB Arbitration Rule
President Trump Wednesday signed a resolution nullifying the CFPB’s rule governing the use of mandatory arbitration agreements—a move that was immediately praised by credit union trade groups. “We appreciate President Trump and Congress for their...
Number of Leagues Joining CUNA’s Equifax Suit Rises Again
At least eight credit union leagues from all over the country are now plaintiffs in CUNA’s recent lawsuit against Equifax over the credit bureau’s huge data breach that exposed personal financial information for millions of people. The Pennsylvania...
Shimmers Appearing at CU ATMs, Sources Say
ATM skimmers have become an unfortunate part of life for many credit unions, but another threat is now hitting CUs as well: illicit EMV card readers called “shimmers.” A shimmer, when inserted into the mouth of an ATM card-acceptance slot, sits...
Consumers Lack Confidence in IoT Security
In an increasingly breach-shy, but connected world, 90% of consumers lack confidence in Internet of Things security; and some two-thirds of consumers and almost 80% of organizations support government-set IoT guidelines. Amsterdam-based digital-security firm Gemalto...
Cordray Asks Trump to Veto Arbitration Resolution
CFPB Director Richard Cordray Monday made a personal appeal to President Trump to veto a congressional resolution nullifying the agency’s arbitration rule. “Many have told me I am wasting my time writing this letter – that your mind is made up and...