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PUNE, India—Following an FBI warning to financial institutions about an upcoming ATM cash-out scheme, India-based Cosmos Bank disclosed that on Aug. 11 hackers stole nearly $2 million in fraudulent bank transfers and $11.5 million in authorized ATM withdrawals, according to Krebs on Security.

SHELBYVILLE, Tenn.–Heritage South Community Credit Union has named a successor to its retiring CEO. The $122-million credit union said that when its long-time leader, Marvin McBee, retires on March 31, 2019, he will be succeeded by Laura L. Parham as chief executive.

WASHINGTON–In response to a number of recent attacks by bankers on the credit union tax exemption, NAFCU President Dan Berger questioned what banks are doing to ensure they don’t cause another recession, and called the bank strategy of “making credit unions the scapegoat” transparent and hollow.