Advanced search

ALEXANDRIA, Va.–In the administrative charges NCUA has filed against a former CEO, it is being alleged that he may have committed one of the largest and long-lasting frauds in credit union history, with allegations including the personal approval of more than $185 million in questionable loans, free luxury trips and other travel for himself and wife from the New York Jets and other vendors, a free residence, a bogus naming rights deal, and even free limousine rides for himself and his extended family.

ALBANY, N.Y.—The New York State Department of Financial Services (DFS) said it is opposed to the U.S. Department of Treasury’s endorsement of regulatory “sandboxes” for fintech companies that essentially allow fintechs to receive special bank charters.

JEFFERSON CITY, Mo.–In one small town where there really isn’t a facility at which a credit union might buy naming rights, one credit union is building its own.

RIVERWOODS, Ill.—Discover has revamped some of the features on the Discover Cashback Debit card, formerly known as Cashback Checking. And some of the changes are aimed directly at Millennials.

ASCHEIM, Germany–Credit unions are frequently told that financial technology (fintech) companies are going to change the competitive landscape–or at least change how the market sees the future.

ALBANY, N.Y.—The New York Department of Financial Services (NYDFS) has issued a reminder for regulated entities required to comply with the state’s cybersecurity requirements that the third transitional period ends Sept. 4.

WASHINGTON—The Fannie Mae Economic and Strategic Research Group has revised upward its full-year 2018 economic growth forecast to 3.0% -- from 2.8% in the prior forecast -- on expectations that third and fourth quarter inventory restocking will outweigh slowing consumer spending growth and a decline in net exports, according to its August 2018 Economic and Housing Outlook.

BROOKLYN, N.Y.—Bay Ridge Federal Credit Union became undercapitalized during the second quarter of 2018 due to losses arising from taxi medallion loans.

ANN ARBOR, Mich.–Credit unions across the country will again be out to lunch in October, but for a good cause.

WASHINGTON—While Republican candidates still lead in attracting campaign support from the banking industry, moderate Democratic lawmakers in this election cycle, such as those that helped create and pass S. 2155, are drawing more support from the industry this year.