The Labor Department will more than likely propose fundamental changes to the fiduciary rule and its prohibited transaction exemptions, resulting in a delay of full implementation of the controversial regulation for at least one year, and perhaps longer, according to...
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?
‘Stunning’ Increase in Data Breaches in 2017
The amount of information exposed due to data breaches has hit a terrifying new high-water mark, according to findings released this week from Richmond, Virginia-based cyberanalytics firm Risk Based Security. Between January 1 and June 30 of this year, there...
Is Millennial Household Formation on the Rise?
Since the end of the recession, millennials have been moving out of their parents’ basements and renting, but now they too want to buy, First American Financial Corp.’s chief economist Mark Fleming tells GlobeSt.com. In a recent report from...
Royal Credit Union Names New CEO
Brandon Riechers, 42, was named president/CEO of the $2.1 billion Royal Credit Union in Eau Claire, Wis., Board Chair Doug Olson said Tuesday. Riechers succeeds former President/CEO Rudy Pereira who resigned in April to become the new president/CEO of the $2.3...
House Takes First Step in Voiding CFPB Arbitration Rule
The House on Tuesday took the first step toward nullifying the CFPB’s arbitration rule, approving a resolution that would void the regulation. Voting 231-190, the House approved the resolution under the Congressional Review Act. Only one Republican opposed the...
Florida Credit Unions Merge
The $31.2 million West Coast Federal Employees Credit Union in Sarasota, Fla., merged with the $587 million USF Federal Credit Union in Tampa earlier this month. West Coast Federal said it decided to merge after identifying challenges that could affect its ability to...