DDoS attacks have been confirmed that have taken down two credit unions and several large banks’ websites. It’s been proven our entire financial system is vulnerable. While stealing personal information doesn’t seem to have been at play, this is a critical concern for the entire financial services industry.
Regulators fiddle while Rome set to burn.
Technology CU members will determine what they want in their CU's future; Bank of America has fiduciary duty to recoup interchange losses.
When Technology Credit Union posted its announcement that it was exploring a conversion to a mutual savings bank, CUNA and the California Credit Union League made some noise. CUNA CEO Bill Cheney said his organization feels credit unions are the best providers of service to consumers.
I don’t think it’s too much of a stretch to say that our industry’s fight against a Draconian interchange fee cap reached epic proportions in the weeks leading up to the June 8 vote in the Senate on the Tester-Corker amendment to delay and study the Fed’s proposed rule. Credit...
This opinion piece by NAFCU President/CEO Fred Becker is one of the articles that will appear in the next print edition of Credit Union Times.
WASHINGTON — Skeptics dominated a conference on the impact of a proposed cap on debit interchange that was held on the same day Federal Reserve Chairman Ben Bernanke informed Congress that the Fed will miss an April 21 deadline to announce the regulation's final version.
Even as CUNA and NAFCU have indicated they will opposed the current finance reform package, the Consumer Federation of America has hailed Congress for having brought the bill this far.
Interchange remains the topic du jour. Many pieces of this issue are puzzling, not the least of which is the process in which it came about. Namely, there wasn't one.