Although the District of Columbia Circuit Appeals Court invalidated President Barack Obama’s recess appointments to the National Labor Relations Board and potentially overturned the board’s decisions since early 2012, credit unions shouldn’t assume the ruling means the CFPB will meet the same fate, said NAFCU President/CEO Fred Becker.
Card management consultants working with a payment processing CUSO and association are working to convince credit unions to look more deeply into their card members data to help the credit unions improve their card portfolio management decisions.
The bland name hides the lethal intent of DDoS when aimed at financial institutions, an event that has become increasingly common as dozens of large banks have recently found their online operations crippled, sometimes for days by highly skilled cyber-attackers.
At a time when some companies are skittish about paying out stored-up pension plans for longtime employees, Lending Solutions Inc. recently went in the other direction.
Their stories of red tape run the gamut from confusion to utter frustration and anger. Even though a check for the government wasn’t due until the end of October, a business owner sent it end on Oct. 12. However, the government waited until Nov. 11 to cash the check...
Credit unions may have their best opportunity ever to boost the portion of mortgage loans that actually go to purchase homes as opposed to loans that refinance previous notes.
A group of Democratic senators introduced a bill Jan. 23 that would allow privately issued student loans to be discharged along with other bankruptcy debt.
As some credit unions around the country gear up to apply for grant money from the U.S. Treasury’s Community Development Financial Institutions Fund, there are indications that credit unions are gradually becoming more sophisticated about navigating the grant writing process.
Repetitive yet necessary tasks such as counting cash and scanning checks steal away precious time that branch employees could be devoting to servicing their members.
As many credit unions learned recently during Hurricane Sandy, disasters can happen. Especially in storm-prone coastal areas, it’s important for credit unions to have reliable back-up plans for their data should a weather-related catastrophe strike.
Reducing deposit fraud cases is an important goal at any credit union. At University Federal Credit Union, one incident in particular triggered the need for a new solution that would allow it to take a preventative approach against this common form of fraud.
The announcement last month by Fiserv that it would acquire Open Solutions Inc. for roughly $1 billion, most of that in debt assumption, has sent some shivers through the credit union core processing world.
DDoS attacks have been confirmed that have taken down two credit unions and several large banks’ websites. It’s been proven our entire financial system is vulnerable. While stealing personal information doesn’t seem to have been at play, this is a critical concern for the entire financial services industry.
Unless the Milwaukee Brewers come calling for him to play as shortstop, Patrick Basler, president/CEO of Chicago-based First Financial Credit Union has found his niche by helping consumers change their perceptions of credit unions.
Human generated content is comprised of all the files and emails that we create every day including all the presentations, word processing documents, spread sheets, audio files and other documents our employers ask us to produce hour by hour.
Credit union members today are often interacting with more technology at home than at the branch, due to the mobile explosion and increased ability to connect to anyone nearly anywhere. Now that members have more choices when it comes to how they prefer to bank, their behavior is beginning to...
St. Mary’s Credit Union last week announced the appointment of James C. Garvey as president/CEO. Prior to joining Marlborough, Mass.-based St. Mary’s Credit Union, Garvey was president/CEO of Borel Private Bank in San Mateo, Calif., and Charter Private Bank in Seattle. Both banks are subsidiaries of Boston Private Financial...
A March 11 trial date has been set for Gezim Selgjekaj of Avon Lake, Ohio, who pleaded not guilty to a 28-count indictment on Jan. 17 that accused him of illegally receiving more than $11 million in the $70 million St. Paul Croatian Federal Credit Union fraud case.
Justice Federal Credit Union recently hosted two grand opening celebrations to commemorate the credit union’s official presence in Georgia with the merger of the Georgia Department of Public Safety Credit Union. The celebrations took place at branches in South East Atlanta and Forsyth. Both locations were the sites of the...
Credit Union Executives Society announces a call to entry for the 2013 Golden Mirror Awards. CUES recognizes the credit union industry’s most creative and results-producing marketing efforts in this annual competition.
The $700 million Arrowhead Credit Union, still under NCUA control after its June 2010 conservatorship, reported 10.53% net worth as of 2012 year end, the NCUA said last week.
A combination of growth in assets and a decrease in the overhead transfer rate means an 0.24% increase to the NCUA’s 2013 operating fee scale for federal credit unions with more than $1 million in assets, according to a Letter to Federal Credit Unions posted on the regulator’s website.
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