by GrafWebCUSO | Aug 18, 2017 | News
An Ohio man allegedly used the allures of a romantic relationship to get a woman who worked at a California credit union to open nearly $3 million in fraudulent lines of credit that led to more than $1.2 million in losses, according an FBI cybercrimes investigator....
by GrafWebCUSO | Aug 18, 2017 | News
Credit unions should enjoy the good times now, and start preparing for a mild recession in 2019, CUNA Mutual Group chief economist Steven Rick said Thursday. The U.S. economy’s expansion is expected to continue at an annual rate of up to 2.4% into 2018, but U.S....
by GrafWebCUSO | Aug 18, 2017 | News
Federal Reserve officials engaged in a detailed debate about inflation while keeping the door open for a September announcement on the timing of balance-sheet reductions, according to minutes from their policy meeting in July. The minutes showed a majority...
by GrafWebCUSO | Aug 17, 2017 | News
Two credit union industry groups are keeping a close eye on one startup’s recent bank charter application to see whether fintechs that want to compete on their turf will land on the same regulatory playing field. The firm, Varo Money, is a San Francisco-based...
by GrafWebCUSO | Aug 17, 2017 | News
It took federal investigators nearly four years to catch up to a former president/CEO who pleaded guilty Wednesday to 17 years of bank fraud that led to a loss of more than $466,000 at a Texas credit union. Susan Margaret Garza, 60, admitted in a U.S. District Court...
by GrafWebCUSO | Aug 16, 2017 | News
When Gordon Simmons grew the Service Credit Union from $292 million to nearly $2.8 billion over his 20-year tenure, he was considered one of the industry’s most successful CEOs. But starting in 2015, Simmons rapidly fell from grace after starting an affair with...
