Credit Union Times Magazine-November 5, 2014

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  • People

    Peter Westerman

    Stephanie Smith was named the executive director for America's Credit Union Museum in Manchester, N.H., the organization's board of directors announced. She replaced Peggy Powell who retired after 15 years of service. Smith most recently served as director of alumni & development events at St. Paul's School, an international preparatory...

  • CFPB Embraces ‘Cop on the Beat’ Role

    Nicholas Ballasy

    Consumer Financial Protection Bureau Director Richard Cordray said the bureau fully intends to be the cop on the beat taking on the four Ds: Debt traps, dead-end markets, deceptive marketing and discrimination.

  • Debt Collection: Focus Report

    Michelle A. Samaad

    Read about CFPB collections scrutiny, outsourcing, retiree debt and more in this Focus Report.

  • Former CU Employee Bilks Accounts

    Peter Westerman

    A former credit union employee pleaded guilty to bank fraud in U.S. District Court in Albuquerque, N.M., the week of Oct. 20 and admitted to using members accounts to pay debts and place a down payment on a house.

  • CUs Approve Three-League Merger

    Peter Strozniak

    The credit union industry has a new league. Bay State credit unions voted 60-0 Oct. 22 to merge their Massachusetts Credit Union League with the New Hampshire Credit Union League and Credit Union Association of Rhode Island to form the Cooperative Credit Union Association.

  • Curbing Retiree Debt

    Michelle A. Samaad

    A vast majority of pre-retirees between 51 and 61 years of age are approaching retirement with sizable amounts of debt.

  • Work Smarter, Not Harder

    Jay Mossman

    The days of segmenting past due accounts into queues based on criteria such as priority, product and alphabetical order are over.

  • Fake CU Operator Heads to Prison

    Peter Westerman

    A U.S. District Court judge in Alexandria, Va., sentenced Timothy J. Coughlin, 63, of Indianapolis to more than seven years in federal prison the week of Oct. 20 for embezzling $10 million through a fake credit union.

  • Retirement Barriers Offer New Opportunities to Help Members

    Eileen Courter

    Once retirement planning was pretty simple your employer offered a set pension every month, Social Security benefits were determined, and with a little foresight you had some savings earmarked for the day you quit work.

  • Rivals Eye Taxi Medallions

    David Morrison

    App-based transportation services such as Uber and Lyft have brought increased competition to the city of New York's taxicab industry and introduced an element of uncertainty on the value of taxi medallions and potentially to those credit unions that finance their purchase or use them as collateral for other loans.

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