WASHINGTON—A new update from the Federal Trade Commission shows that fake check scams led to reported individual median losses of nearly $2,000 in 2019 – losses far higher than on any other of the top 10 scams reported to the FTC, the agency said.
Fresh Today
SALT LAKE CITY–John Lauck, president and CEO of Children’s Miracle Network Hospitals, has died due to complications following a bike accident.
ST. PETERSBURG, Fla.—PSCU is reporting it stopped more than $277 million in potential fraud for its credit unions and their members in 2019 by blocking fraud at the point of sale, in the contact center and online, among other channels.
WASHINGTON—The Small Business Administration (SBA) has published an interim final rule – along with a request for additional comments – to incorporate express loan program requirements into other business loan program regulations.
SAN JUAN, Puerto Rico–Bondholders—including credit unions—that hold approximately $35 billion of this island’s total debt load said they have reached an agreement on terms as the island’s government works through the bankruptcy process.
CHICAGO– More than half of U.S. consumers view their credit score at least monthly, with 87% receiving such updates at no cost, according to a recent study from Javelin Strategy & Research commissioned by TransUnion.
WASHINGTON—Ahead of a House Ways and Means Committee hearing to examine the corporate income tax, NAFCU's Brad Thaler touted the economic benefits and value of the credit union tax exemption, highlighting that "credit unions are a vital part of the financial services industry and provide their nearly 120 million members financial opportunities they may not otherwise have access to."
ROCKY HILL, Conn.– Nutmeg State Financial Credit Union said it has entered into a new partnership with Porter and Chester Institute, a technical school with locations in Connecticut, Massachusetts and Pennsylvania, to offer education loans to its students.
CHANDLER, Ariz.–First Credit Union said it marked its 90th anniversary with a service campaign called #90DaysofGiving that gave back to the communities and members it serves.
WASHINGTON—CFPB Director Kathy Kraninger – during a House Financial Services Committee hearing to review the Bureau – restated her position the agency will no longer defend the Bureau's single-director structure in a lawsuit set to be considered by the Supreme Court in March.