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...
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?
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...
How Automation Will Impact the Next Generation of Work
Artificial intelligence, data analytics and other emerging automated technologies are not only going to impact low-wage workers, but also highly compensated executives and other professionals – and employers should be helping them to prepare now for...
NCUA Liquidates N.Y. State Employees FCU
The NCUA on Friday liquidated New York State Employees Federal Credit Union. Palisades Federal Credit Union of Pearl River, N.Y., immediately assumed most of the liquidated credit union’s assets and all members, shares and loans of the New York City-based credit...
Most Consumers Satisfied With How FIs Handle Account Fraud
While 15% of U.S. consumers spotted fraudulent activity on their accounts last year, 85% said they were satisfied with how their credit union or bank handled the incident, according to a new survey commissioned by the Ottawa, Canada-based March Networks. The online...