ORLANDO, Fla.–The operator of a bogus credit union here has pleaded guilty to wire fraud. Samuel J. Cusumano, Jr., 65, pleaded guilty to wire fraud in connection with the fraudulent solicitation of more than $17 million from 400 investors of what was called “Storehouse Credit Union,” which was registered in Sweden.
ARLINGTON, Texas – New student-created artwork has been selected for debit cards offered by Texas Trust Credit Union that have generated significant revenue for local schools.
CHAPEL HILL, N.C.–The typical bank-owned broker dealer generated $239,531 in revenue per BD employee last year, according to the 2014-2015 Kehrer Bielan Bank Broker Dealer Survey released this week.
MONTREAL, Quebec—Two former NCUA board members Friday pulled back the curtains on what goes on behind the scenes at the agency, talking about disagreements between board members, how policy is formed, and whether real regulatory relief is coming for credit unions.
LAKE FOREST, Ill.—The CFPB Thursday released three years of complaints consumers have made against financial companies, and the data shows that overdrafts are low on the list of services that trouble Americans, reports one economist, who suggests the CFPB should pay close attention to what consumers are saying.
MONTREAL, Quebec–NCUA Chairman Debbie Matz’s remarks at NAFCU’s annual meeting here in which she outlined six different areas of focus for regulatory relief were met with “strong disapproval” from the American Bankers Association.
ARLINGTON, Va.–The National Association of State CU Supervisors responded to NCUA Chairman Debbie Matz’s remarks that she is “committed to supplemental capital in full” by saying it welcomes the support.
WASHINGTON—The Consumer Financial Protection Bureau (CFPB) has gone live with an enhanced public-facing consumer complaint database that includes for the first time more than 7,700 consumer accounts of problems they are facing with financial companies concerning mortgages, bank accounts, credit cards, debt collection, and more.
WICHITA, Kan.–Byron Stout, vice president of human resources for Meritrust Credit Union since 2007, has died after a battle with cancer.
MONTREAL, Quebec—Saying the payment space is undergoing a period of disruption and innovation not seen since plastic cards were introduced, one MasterCard executive encouraged CUs to stay abreast of all the change and get involved in digital wallets that are emerging.
