FT. LAUDERDALE, Fla.—As crooks continue to become more sophisticated with their payments crimes, one old-school method is still vexing the financial services industry—first-party fraud–according to both one expert and CUs themselves.
Fresh Today
WASHINGTON–More than 120 consumer advocates from 29 states met with members of Congress as part of the third annual Consumer Lobby Day, where they called for stronger consumer financial protections for ordinary families, addressed predatory lending and forced arbitration clauses, and said there is a need for a “strong CFPB to enforce the rules of the road.”
WASHINGTON–The House Financial Services Committee has passed H.R. 2514, the “Coordinating Oversight, Upgrading and Innovating Technology, and Examiner Reform (COUNTER) Act of 2019,” which includes Bank Secrecy Act/Anti-Money Laundering (BSA/AML) relief for credit unions.
WASHINGTON—Leaders of the House Small Business Committee have requested the Government Accountability Office (GAO) evaluate the Small Business Administration's (SBA) fiscal year 2020 budget estimates for its 7(a) program.
WASHINGTON—Leaders of the Federal Trade Commission (FTC) acknowledged the need for enhancements to consumer data security and privacy during a hearing held by a House Energy and Commerce subcommittee this week.
OLYMPIA, Wash.—Washington State has passed legislation that acknowledges and defends the legal standing of digital records related to distributed ledgers like blockchains.
JANESVILLE, Wis.–Police here are seeking help in identifying members of the so-called “Felony Lane Gang,” which has been robbing credit unions and other FIs in the area.
FARGO, N.D.–Two credit union professionals have been inducted into the Credit Union Association of the Dakotas (CUAD) Hall of Fame, while the CUAD has also named its Professional of the Year.
BONNEY LAKE, Wash.–A new white paper has found that although credit union executives and boards have a duty to consider members’ interests in all matters, other factors may take precedence when it comes to evaluating the merits of merger proposals, according to findings reported in a new white paper from CEO Advisory Group.
WESTMEATH, Ireland–With its most recent giveaway of a new car, Mullingar Credit Union here is reporting it has given away 215 cars over the past 18 years.