WASHINGTON— Banks and credit unions relying heavily on texted one-time passcodes may need to rethink that strategy fast, as fraudsters increasingly exploit SMS-based verification to take over accounts and push through payment fraud, according to new reporting by BankInfoSecurity on a threat-intelligence report from Recorded Future.
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LACEY, Wash.— The $4.3-billion Peak Credit Union has laid off 85 employees across multiple states, with the cuts early last week as the recently rebranded institution moves to adjust to what it described as current economic pressures, according to The Olympian.
NEW YORK—Credit unions are relying more heavily on fintech partnerships as a faster path to modernization, with new PYMNTS Intelligence research produced in collaboration with Velera showing those relationships are expanding even as similar arrangements with larger banks are pulling back.
TAMPA, Fla. — The biggest fraud risk facing credit unions in 2026 may not come from hackers breaking in — but from members themselves unknowingly (or sometimes knowingly) helping fraud happen, according to Karen Postma, senior vice president of risk solutions at Velera.
NEW YORK—A new study from J.D. Power shows credit unions hold a lead over banks in customer satisfaction, but it also suggests that advantage may be starting to erode as member satisfaction slips and more consumers quietly open relationships with competing financial institutions.
WASHINGTON—America’s Credit Unions has filled one of its most closely watched leadership vacancies, with President and CEO Scott Simpson Tuesday announcing the trade group has named Kathleen Coulombe chief advocacy officer.
CHICAGO—As digital fraud grows more sophisticated, credit unions are facing a tougher version of an old problem: how to stop more fraud without piling on the kinds of login hurdles, step-up checks and false positives that frustrate legitimate members.
LAKE BLUFF, Ill.— Even after the Federal Reserve held rates steady again this month, the message from the market is increasingly clear: financial institutions should prepare for a “higher for longer” deposit environment in 2026—and possibly even the risk of a rate hike before year-end—as sticky inflation, rising oil prices and geopolitical turmoil keep pressure on funding costs and intensify competition for consumer deposits.
SCOTTSDALE, Ariz.— Credit unions may be winning the early race on generative AI, but Cornerstone Advisors’ newest What’s Going On in Banking 2026 report suggests that for many institutions, the bigger story heading into 2026 may be what happens after the pilot phase—when artificial intelligence collides with weak data foundations, rising fraud losses, and a still-intense fight for member growth.
TAMPA— When Chuck Fagan talks about stepping down as President/CEO of Velera, he doesn’t sound like an executive making a sudden exit. He sounds like someone finishing a relay handoff that started years ago.