Mobile ransomware attacks focus on wealthy countries. An annual report from Woburn, Mass.-based Kaspersky Lab. showed the United States leading the ransomware list, followed by Canada, Germany and the United Kingdom. The report from April 2016 to March 2017 revealed...
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?
CFPB: Five Never, Three Maybe, One for Now
It was interesting to read David Baumann’s June 23, 2017 article on the 22 trade groups that are asking Congress to convert the CFPB into a five-member, president-appointed, Senate-confirmed, bi-partisan commission. The most interesting aspect about this effort...
MidFlorida CU to Pay $2.375 Million in Overdraft Suit
Lakeland, Fla.-based MidFlorida Credit Union has agreed to pay $2.375 million to settle a class-action lawsuit regarding its overdraft fee practices. The settlement requires MidFlorida CU, which has $2.9 billion in assets and 271,000 members, to pay members for...
NCUA Bans 6 Former CU Employees
Six former credit union employees, including two CEOs, a commercial services manager, a teller and a senior member service representative were banned from participating in the affairs of a federally insured financial institution, according to a prepared statement...
NCUA Ignored Contract Rules, Leaving Agency Vulnerable to Fraud: OIG
The NCUA failed to follow basic rules in contracting for goods and services, leaving the agency vulnerable to fraud and abuse, the department’s Office of Inspector General said in an audit of agency activities between Jan. 1, 2011 and June 30, 2016. “We...
Second Home Markets Sizzle
When buyers are looking for a second home at a reasonable price, they’re likely to be looking in Tennessee, North Carolina, Florida and Maryland. Those states dominate the top 10 of a list of 100 cities identified Monday by ATTOM Data Solutions as the best...