The CFPB on Friday released four overdraft disclosure prototypes designed to make it easier for consumers weighing whether to take out overdraft protection. The one-page form is designed to improve the model form already being used by credit unions and banks....
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 Former CEO, Branch Supervisor & Teller
Convicted of embezzlement, fraud or grand theft, former credit union employees who worked as a CEO, a branch supervisor and a teller were banned from participating in the affairs of any federally insured financial institutions, the NCUA announced earlier this week. In...
Financial Institutions Battle Credential Stuffing Bots
The reality of breaches is the amount of information available on the dark web. In 2016, hackers stole some three billion credentials, some of which they use in account takeovers. The big security threat called credential stuffing is the use of automated means to test...
Trade Groups Thank CFPB for Eased Rule (Then Ask for More)
Credit Union trade organizations praised the CFPB for its proposal to ease up on Home Mortgage Disclosure Act reporting for home equity lines of credit — then they urged the agency to go further. In letters sent to the Consumer Finance Protection Bureau in the...
Insurance Breach Reported & Businesses Remain Virtually Deaf to Cyber Threats
A second breach at Anthem Inc. exposes the fact that businesses are not prepared for cyber attacks.
Credit Unions, Banks Warily Watch Jeff Sessions on Marijuana Policy
U.S. Attorney General Jeff Sessions has loomed as a threat to the legalized marijuana industry. But Sessions, at the helm of the U.S. Justice Department since February, hasn’t taken any overt action to undermine state regulations, giving some hope to...

