Credit Union Times | Accurate and Timely CU News

BSA Compliance Rises to the Top of Regulatory Interests

By Sarah Snell Cooke

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,...

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Two-Factor Authentication for Online Services Takes Center Stage with 2006 Deadline

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More Credit Unions Formed MBL CUSOs, Partnered With SBA in 2005

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December 20, 2005

2005: The Year of the Billion Dollar CU Conversions; Community CU Conversion Gets Ugly and Litigious

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...

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December 20, 2005

Tech Mergers Change the Vendor Landscape

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...

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December 20, 2005

Bankruptcy Reform Finally Passed; Shakes Up Lenders Short-Term, Long-Term Benefits TBD

WASHINGTON-Bankruptcy filings surged in the weeks leading up to the Oct. 17 effective date of the Bankruptcy Abuse Prevention and Consumer Protection Act, but lenders expect the long-term benefits to outweigh the initial spike. On April 14, the House passed the bill 302-126 after the Senate had already approved it...

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December 20, 2005

In Memoriam: Credit Union Leaders Gone Too Soon in 2005

2005 marked the loss of remarkable credit union leaders. Credit Union Times honors those who died in this listing. We regret any leaders who passed that we may have missed. Richard Flynn, former CUNA Credit Union CEO died at the age of 86. The credit union's second CEO, Flynn spent...

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December 20, 2005

ABA Up to its Old Tricks with Renewed Hope, New Lawsuits

MADISON, Wis. - CUNA Mutual endured one of its most bitter battles with its union ever in 2005. For over a year, the company and the Office of Professional and International Employees Local 39 sparred over a new collective bargaining agreement. The battle was very public. It included picketing at...

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December 20, 2005

HSAs Arrive in 2005, Are CUs Ready for the Future?

WEST PALM BEACH, Fla. - With predictions of a Health Savings Account (HSAs) boom in 2006, opportunity has been knocking for credit unions to get in on this potential revenue maker early. HSAs are tax-free savings accounts that can be used to pay for medical expenses including prescription and over...

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December 20, 2005

Special Feature: How Credit Union Organizations, Leaders Celebrate the Holidays

Tis the Season for the Industry to Celebrate With this the last issue of the year for Credit Union Times, our staff contacted its sources to find out just how they plan to celebrate the holiday season. Some organizations hold lavish holiday parties, while others prefer smaller affairs. Of course,...

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BSA Compliance Rises to the Top of Regulatory Interests

Two-Factor Authentication for Online Services Takes Center Stage with 2006 Deadline

More Credit Unions Formed MBL CUSOs, Partnered With SBA in 2005

Recommended Just For You

News Stories

2005: The Year of the Billion Dollar CU Conversions; Community CU Conversion Gets Ugly and Litigious

Tech Mergers Change the Vendor Landscape

Bankruptcy Reform Finally Passed; Shakes Up Lenders Short-Term, Long-Term Benefits TBD

In Memoriam: Credit Union Leaders Gone Too Soon in 2005

ABA Up to its Old Tricks with Renewed Hope, New Lawsuits

HSAs Arrive in 2005, Are CUs Ready for the Future?

Special Feature: How Credit Union Organizations, Leaders Celebrate the Holidays