WASHINGTON—Sen. Elizabeth Warren (D-MA) has introduced legislation that would resurrect some provisions of the Glass-Steagall Act, including one again separating commercial banks from investment banks, among other things.
Fresh Today
WASHINGTON—Two pieces of legislation that seek to improve cybersecurity practices at the Small Business Administration and help small businesses across the country defend themselves against cyber threats have passed in the House.
PACOIMA, Calif.–The effect one bad loan can have on a small CU can be seen in a merger taking place here. The $3-million Pacoima Development FCU, which was founded to serve this community in 2005, said it plans to merge into Gain FCU in Burbank, Calif., as the result of financial struggles.
CHARLESTON, S.C.–After initially saying it would not do so, Founders FCU here has decided to reimburse members whose accounts were emptied thanks to a sophisticated scam, even though the credit union itself was not at fault and there was no breach.
MERIDEN, Conn.--The Credit Union League of Connecticut has named Bruce Adams president/CEO.
WASHINGTON—The CFPB is reconsidering how it examines financial institutions, according to Director Kathy Kraninger, "to ensure that [the Bureau is] risk-prioritizing our resources, utilizing technology to automate certain tasks and taking full advantage of appropriate partnerships with … fellow regulators."
WASHINGTON—The House Energy and Commerce Committee has advanced legislation intended to combat illegal robocalls to the full chamber.
MONTREAL, Quebec–Among the victims of the huge data breach among credit unions that are part of Desjardins Group–a breach suspected to be an inside job–is the former president of the organization.
ARLINGTON, Va.—Credit unions are being reminded there are a number of laws and regulations that dictate notices and signage credit unions must display on ATMs, largely based on the machine's capabilities.
NEW YORK–Much of the focus is on cryptocurrencies, but a coin of the old-fashioned type is on display here, and it won’t be deposited in a credit union any time soon.