JOHANNESBURG, South Africa–A South African bank reportedly was hit by criminals more than 10,000 miles away who were able to steal $13 million from ATMs using fake South African credit cards.
Fresh Today
TUCSON, Ariz.—Vantage West Credit Union has joined with the University of Arizona Wildcats to sponsor its ZonaZoo, the official student section for University of Arizona Athletics, with a special offer.
BASEL, Switzerland–The Basel Committee on Banking Supervision has released the final version of its standard on Interest Rate Risk in the Banking Book, which is its formal guidance on monitoring, controlling and supervising interest rate risk, and it includes response to comment letters filed by the World Council of Credit Unions in 2015.
SAN FRANCISCO—Fitbit, which makes activity-tracking smartbands and phone apps, announced it is purchasing Coin, the San Francisco-based payments developer of the credit card-emulating Coin card.
LOS ANGELES—Children’s Hospital Los Angeles has received a commitment of $5 million from Credit Unions for Kids that will go toward the hospital’s Helping Hands Fund, which ensures all patients receive the critical, lifesaving care they need.
SAN FRANCISCO–A fintech start-up here, Varo Money, could in the future also seek its own bank charter.
SANTA ROSA, Calif.–Redwood Credit Union said it has entered into a unique partnership with seven local lending institutions that have pledged to invest $250,000 to create the Sonoma County Loan Fund: a micro lending pool for startup and expanding entrepreneurs who typically do not qualify for traditional financing.
ALEXANDRIA, Va. –NCUA has introduced a new effort it said is aimed at modernizing the agency’s examination and supervision program.
MADISON, Wis.–Credit union loan growth is approaching its fastest pace in nearly two decades and asset yields should increase by nine basis points as a result, according to the newest CU industry numbers released by CUNA Mutual Group.
WASHINGTON–New home sales surged during April, with the volume representing the biggest one-month jump in 24 years.