After detectives and NCUA auditors confronted Debra C. Pyfrom on June 30, the manager of the $6.3 million IBEW Local 816 Federal Credit Union confessed she stole more than $100,000 over two years.
Debra Pyfrom admits she stole from the $6.3M IBEW Local 816 FCU, which was liquidated by the NCUA July 10.
A new report from the Center for Responsible Lending has documented that payday lending at six large banks is continuing, and the reported alleged it is damaging consumers financially.
Letters to chief regulators calls for curbs on payday lending, citing risks to consumers and the institutions themselves.
Parts of a proposed Federal Reserve regulation that would require credit unions to reduce the hold time on certain checks could increase the incidents of fraud and threaten safety and soundness, according to letters from CUNA, NAFCU and several credit unions.
View varies from credit union industry leaders who say proposed new rules are too restrictive.
Organized labor in Florida is asking its members to pull their funds out of major banks supporting what labor leaders call a union-busting bill.
President Obama is scheduled to sign the financial regulatory overhaul bill tomorrow and among credit union advocates and other groups there is much wondering about who will be the first head of the Consumer Financial Protection Bureau.