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...
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?
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...
2 More Credit Unions Go After Equifax
Two more credit unions are suing Equifax for damages related to the credit-reporting agency’s recent data breach, court records show. Colorado Springs, Colorado-based Aventa Credit Union and New Castle, Pennsylvania-based First Choice Federal Credit Union, along...
NCUA Wants to Continue Push for Exam Flexibility
The NCUA would like to implement a flexible exam schedule that extends exam cycles up to 20 months, according to the agency’s draft Strategic Plan, released Thursday. The NCUA board approved the publication of the draft plan and is soliciting comment on the...
Credit Unions Wade Further Into Auto Loans Alone
Imagine walking through the palms toward the beach with an umbrella and cooler in hand. As you turn a corner, you see snakes, crocodiles and everyone else rushing past you headed for higher ground. Michael Cochrum of CU Direct calls the resulting insecurity the...
Puerto Rico Rejects $1 Billion Loan Offer From Creditors
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...