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.
Fresh Today
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.
LONDON—The number of people using digital wallets will increase to nearly four-billion from the current 2.3 billion by 2024– 50% of the world’s population–a new study is forecasting.
NEW YORK—The American Express Gold Card is getting a few improvements.
HANGZHOU, China—With some experts continuing to predict digital wallet usage won’t take off in the U.S. until all of the “pays” begin working together, other countries appear to be ahead of that curve.