Legislation to avert future data breaches like the one at Equifax Inc. will fall short because none can fully prevent human error, a U.S. congressman told the company’s former top executive. “You can’t fix stupid,” Representative Greg Walden,...
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?
NCUA Bans Two Tellers
The NCUA last week banned two tellers, one who helped plan two robberies of a Texas credit union and another who stole money from accounts of elderly members at a credit union in Virginia. Desire Valverde, 23, a former teller of the $254 million Education Credit Union...
Shreveport Federal Credit Union Liquidated
The NCUA on Monday liquidated the Shreveport Federal Credit Union in Louisiana. The Red River Employees Federal Credit Union of Texarkana, Texas immediately assumed the credit union’s membership, and most shares, loans and other assets. Red River serves 84,093...
Puerto Rico CU Employees “Getting Nervous” as Supplies Run Low
Mayra Navas, branch manager of JetStream Federal Credit Union in Puerto Rico The $2.9 billion Coastal Federal Credit Union in Raleigh, N.C. contributed $300,000 Monday to the National Credit Union Foundation and the World Council of Credit Unions that will fund relief...
Equifax to be ‘Held Accountable,’ CUNA to File Lawsuit
The credit union industry’s largest national trade association, CUNA, announced Friday that it plans to file a lawsuit against Equifax over the credit bureau’s massive data breach. "Equifax needs to be held accountable for this massive data breach that...
Outrage Over Equifax Data Breach Revealed in New Survey
More than half of Americans polled have yet to check if they were hacking victims of the Equifax breach but believe the credit rating firm should lose its credit bureau status. The Hoboken, N.J. based LendEDU polled 1,000 American consumers following the Equifax...