THE news

SANTA ROSA, Calif.—One credit union has had its office damaged from the massive California wildfires and another is in harm’s way, according to the California and Nevada Leagues.

ST. PETERSBURG, Fla.–By 2020, it is projected there will be more than 50 billion connected devices employed worldwide – or approximately 6.6 devices per person.

SHREVEPORT, La.—NCUA Monday liquidated $86-million Shreveport FCU. The agency said Red River Employees FCU of Texarkana, Texas, immediately assumed SFCU’s membership and most shares, loans, and other assets.

WASHINGTON–Regulators should shut down Wells Fargo for its abuse of the trust of millions of its customers, according to one member of Congress.

WASHINGTON—CUNA and several of its member credit unions participated in the Small Business Administration’s Office of Advocacy Financial Roundtable this week.

ARLINGTON, Va.—While credit unions are confident they'll meet the Jan. 1, 2018, compliance deadline for key changes to reporting requirements under the Home Mortgage Disclosure Act (HMDA), only one-in-10 have received final updates from their vendors to implement the new data points, according to NAFCU's latest Economic & CU Monitor survey report.

MADISON, Wis.–The “fastest membership growth in more than a generation” and strong loan growth can be seen in the latest credit union industry performance numbers.

MOLINE, Ill.–Two credit unions here say they are merging. The $1.9-million Electric Energy Inc. Employees Credit Union said it is merging into the $600-million Vibrant Credit Union.

MADISON, Wis.–Summit Credit Union here has filed a lawsuit against Equifax over its massive data breach, and is seeking class action status on behalf of other credit unions.

SAN DIEGO–The San Diego City Council has accepted a $500,000 bid from San Diego County Credit Union for naming rights to Qualcomm Stadium here.