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...
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.
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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...
Renter Households Reach 50-Year High
The percentage, as well as number of U.S. households led by renters, is at the highest level in more than 50 years, the Pew Research Center reported this week. The research organization’s analysis of Census Bureau housing data found that growth in the...
Former CU Manager Admits to $1.5 Million Fraud
A former branch manager and loan officer admitted Monday to defrauding nearly $1.5 million from an Alabama credit union and manipulating credit scores or overinflating the value of vehicles to approve more than 250 car loans. Jennifer Leigh Arnette of Enterprise,...
Wells Fargo Data Fiasco Raises Red Flags, Demands Serious Change
Legal analysts, consultants and others are reacting to the news that an attorney working with Wells Fargo shared private information tied to more than 50,000 clients and advisors with a former Wells Fargo advisor. Though the bank insists the leak of...