News

A key federal judicial panel has ruled that the lawsuits against Heartland Payment Systems stemming from the processor's record-breaking card data breach will be heard in the Southern District of Texas.

A confidential memo from Primary Financial President/CEO Mark Solomon to corporate credit union CEOs reveals the investment CUSO coordinated a system-wide 20-basis-point rate cut on SimpliCDs.

Former CU National Mortgage President Michael McGrath revealed a complex scheme in court yesterday that allowed him to fraudulently sell unauthorized credit union mortgages to Fannie Mae to cover his investment losses.

The TransUnion credit bureau has found that card delinquency across all card issuers is creeping higher.

A letter from NAFCU to the chairman and ranking member of the Senate Judiciary Committee has argued that credit unions would be particularly hurt by a proposed cap on card interchange.

Michael J. McGrath, Jr., former president of U.S. Mortgage and CU National Mortgage, pleaded guilty yesterday to mail and wire fraud and money laundering charges in connection with a $139 million mortgage fraud scheme.