News

HOUSTON - The ATM and EFT world lost one of the last networks owned by its financial institution members in 2005 when the banks and credit unions which owned the PULSE EFT Association approved the network's purchase by Discover Financial Services, the card arm of Morgan Stanley. Undoubtedly the prospect...

WASHINGTON-Recent public violations of the Bank Secrecy Act, such as the Riggs Bank incident, have led to increased scrutiny by the federal financial regulators. So far, just one credit union-Suffolk Federal Credit Union in November 2004-has been hit with a Letter of Understanding and Agreement for a BSA violation. However,...

COLUMBIA, S.C. - Phishing and pharming and other hacks had been dominating the chat at the IT cyber water cooler this year until Oct. 12 rolled around. That day, the Federal Financial Institutions Examination Council (FFIEC) issued its new guidelines on online authentication. While the guidance focused on risk management...

WASHINGTON - The momentum continued in 2005 for credit unions as they made more of a presence in the member business lending arena. As of the end of the second quarter, the most current data from Callahan & Associates, Inc., CUs had more than $14 billion in MBLs outstanding compared...

DALLAS - Without a doubt when it came to credit unions exchanging their charters for those of mutual banks, 2005 was the year this controversial issue most came into focus - and it did so primarily with the $1.4 billion Community Credit Union in Plano, Texas. The credit union launched...

WEST PALM BEACH, Fla. - Consolidation among technology vendors is an annual event - 2005 was a moderate year. By far the biggest deal was Fidelity National Information Services' acquisition of Certegy. FIS has stormed on the credit union scene in recent years, and became a major player when it...