Regulatory & Compliance

The last computer hacker associated with the ring that stole millions of credit and debit card numbers from retailers and cost card issuers tens of millions of dollars received five years in prison.

Despite calls for corporate consolidation, small corporate executives told Credit Union Times they are not in merger discussions nor are they likely to merge.

Larry Eisenhauer, president/CEO of the $340 million Kansas Corporate CU, said his members want the corporate to "remain a separate entity."

Credit unions can develop customized versions of a model consumer privacy notice by using the Online Form Builder released today by the Federal Reserve, in conjunction with the NCUA and other regulatory agencies.

Pulling from a 2003 Government Accountability Office study, the Wisconsin Bankers Association offered what it considered to be evidence that most NCUA examiners do not have enough experience to effectively monitor commercial loans at credit unions.

National Community Reinvestment Coalition President/CEO John Taylor told lawmakers today that credit unions "have not served minority and working communities in a satisfactory manner."