For years, banks have issued fraud-prone mag stripe cards, putting information at risk, the letter from the National Retail Federation said.
Court documents say conspirators include three employees and three members of the failed Taupa Lithuanian Credit Union of Cleveland.
Three employees and three members racked up millions in insufficient funds that caused Taupa Lithuanian Credit Union insolvency.
William J. Memmer accused of stealing $1.8M and understating assets by $5.7M, causing failure of $15.5M GICFCU.
In response to increasing risks, insurers now offer cyber liability insurance. The product is particularly attractive to financial institutions and health care providers.
NCUA OIG report on $7M NCUSIF loss says regulator should ask Congress for access to independent audit reports, circumventing credit union management.
Yesterday's staff wellness programs have transformed into today's health and wealth campaigns. HSA accounts and the correlation between health and finances keep credit unions relevant.
A civil suit filed by Erie Affiliates Inc. claims that Julie A. Spirikaitis — wife of Alex R. Spirikaitis, former president/CEO of the shuttered Taupa Lithuanian Credit Union — was “complicit in the scheme to defraud” the Ohio general contractor out of $505,985.
CUNA will release aggregate breach cost information to member credit unions, lawmakers, federal regulators and the media. Individual credit union numbers will be kept confidential.
Some credit union branches in New Jersey never opened Friday, but most in the storm's path had opened by noon.