Puerto Rico rejected an offer from Electric Power Authority bondholders to lend the utility $1 billion in the wake of Hurricane Maria, saying the deal would hamper the agency’s recovery. Investors holding about $3 billion of power utility bonds said the...

Reporters meeting with NCUA board members. Photo from NCUA. Defending their decision to increase the agency’s operating level, NCUA board members said they are prudently protecting the Share Insurance Fund and are not engaging in a “cash grab.” In...

The NCUA approved 24 mergers in August, the highest number of consolidations in one month so far this year. In July, the federal agency approved only 11 mergers. Five credit unions were approved to merge because of their poor financial condition, and two because of...

The Republican tax reform blueprint released Wednesday does not specify how tax cuts in the plan would be paid for, so credit unions that are carefully guarding their tax exemption aren’t out of the woods yet. The plan would cut taxes for businesses, the middle...

The volume of phishing attacks targeting the financial industry nearly doubled in the second quarter of this year and is the largest quarterly volume Charleston, S.C. firm PhishLabs has ever observed In its Q2 2017 Phishing Trends and Intelligence Report PhishLabs...

A former credit union office manager will be sentenced in December after she admitted to embezzling nearly $180,000 from a failed New York credit union. Norma Gold, 57, of Eldred, Pa., pleaded guilty to false entries in federal credit union reports, last week in U.S....