News

FRAMINGHAM, Mass. - The impact of the new Fair and Accurate Credit Transactions (FACT) Act remains to be seen, but the rules-making that follows such sweeping federal lawmaking could well have an impact on financial institutions, credit reporting agencies and IT vendors alike Sophie Louvel, an analyst with Financial Insights,...

SAN DIEGO, Calif. - Four credit unions have just committed to the Symitar Cruise core processing platform, bringing to more than 190 the number of CUs that will be running the system geared for smaller institutions, the company says. Using the system in-house will be $23.8 million Holston Methodist FCU...

SAN ANTONIO, Texas - Security Service Federal Credit Union will become the latest big credit union to use Corillian Corp.'s online banking solutions. The $3.5 billion CU will be deploying Oregon-based Corilllian's Consumer Banking application. Security Service has been using an in-house online banking system, according to the 2004 Credit...

NEEDHAM, Mass. - Credit unions that find they are spending a growing share of their information technology budget on risk management are not alone. In fact, risk management is no longer a separate category but a major driver in the financial services market, demanding "a new discipline," according to TowerGroup...

WASHINGTON - Internet auction fraud was by far the most heavily reported online crime to the Internet Crime Complaint Center (IC3) in 2004, according to a new report from the joint venture of the National White Collar Crime Center and the FBI. Those who reported the highest dollar losses, however,...

CAMBRIDGE, Mass. - Despite the news and publicity, awareness of phishing attacks is relatively low among online consumers but general e-mail fraud concerns are high. And, of keen interest to credit unions, e-mail fraud concerns appear to be impacting online financial behavior. That's according to the results of a survey...