ALEXANDRIA, Va.–The shocking embezzlement of $40 million from one now failed California credit union was the result of a lack of internal controls, far too much authority in one person, failures by the supervisory committee and extended failures by NCUA examiners, according to a new report.
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JACKSON, Miss.—There is some good news coming out of the flood-stricken state of Mississippi, and that is credit unions, apparently, have been spared any damage to this point.
ARLINGTON, Va.—On a seasonally adjusted basis, overall consumer prices rose 0.1% in January following a 0.2% rise in December. One result of that, according to NAFCU Vice President of Research and Chief Economist Curt Long, is he expects no rate hikes by the Fed in 2020.
SCOTTSDALE, Ariz.–Building partnerships with fintechs in 2020 is an even bigger priority for credit unions than banks, according to new research released by Cornerstone Advisors.
WASHINGTON–Business email compromise scams, which often target executives at financial institutions and other companies, saw a sharp increase in 2019, according to a new FBI Internet Crime Report.
NEW YORK—Americans continue to pile on the credit card debt.
ALEXANDRIA, Va. – NCUA is reporting its four funds have again earned unmodified or “clean” audit opinions for 2019, according to audited financial statements released today by the agency’s Office of the Inspector General.
CAMBRIDGE, Mass.–Gene Foley, who marked his 40th anniversary with Harvard University Employees Credit Union in 2019, has announced he will retire as president and CEO effective July 17.
DUBUQUE, Iowa–DuTrac Community Credit Union has made a gift of $1.3 million to the Iowa Credit Union Foundation to establish a new DuTrac Community Credit Union Fund. The DuTrac Fund is a donor-advised fund that will be administered by ICUF.
RALEIGH, N.C.–Coastal Credit Union has paid out more than $3.7 million in special dividends to eligible members through its Loyalty Bonus program.