Lawmaker Fears Unfair Fintech Biz Lending Practices

A Democratic member of the House Financial Services Committee is asking five fintech companies for detailed information about their services to small businesses, disclosures and services to minority-owned firms. In asking for the information, Rep. Emanuel Cleaver...

Taxi Loans Lead to LOMTO Conservatorship

The NCUA has taken control of a New York credit union that lost millions as taxi investments lost value with competition from Uber and other ride-sharing apps. NCUA said on Monday it conserved LOMTO Federal Credit Union in Queens ($256.1 million in assets, 2,910...

PenFed CEO Honored as CU Hero of the Year: ACUC Onsite

PenFed President/CEO James Schenck, right, receives the Credit Union Hero of the Year award from CUNA President/CEO Jim Nussle, left. LAS VEGAS – CUNA President/CEO Jim Nussle honored James Schenck, president/CEO of the $20.2 billion Pentagon Federal Credit...

Credit Unions, WOCCU & Others Welcome New Talent

During the past week, the credit union industry has seen a lot of new people coming into new roles.   WEST  The $3.4 billion Redwood Credit Union based in Santa Rosa, Calif., hired Reid Louie as assistant vice president/regional manager of branch...

It’s Time to Move Digitally: ACUC Onsite

Todd Clark, president/CEO of CO-OP Financial Services, discusses how credit unions can keep up in today’s digital world. LAS VEGAS – Credit unions must retire the phrase “digital strategy.” In a world where apps like Uber and Airbnb are setting...