CANTON, N.C.–Some credit unions are reporting a rash of unauthorized transactions on members’ accounts, with at least one CU theorizing it’s due to crooks racing to act before EMV cards are fully in place with members.
Fresh Today
WASHINGTON–CUNA’s political action committee, the Credit Union Legislative Action Council (CULAC), has been ranked as the largest trade association political action committee, and fifth largest PAC nationally, in terms of direct giving to candidates by the Center for Responsive Politics. CULAC raised more than $1.7 million for the 2016 election cycle.
WASHINGTON–The Department of Education has enacted new regulations that prohibit fees such as overdraft fees and transaction swipe fees for bank or prepaid card accounts offered by academic institutions or any contractors that work with them, and which prohibit academic institutions from requiring students or parents to open an account at a specific institution that may have a financial relationship with their school to receive student aid refunds.
OLYMPIA, Wash.–Kevin Foster-Keddie, president and CEO of Washington State Employees CU, has been named chairman of the CFPB’s Credit Union Advisory Council by CFPB Director Richard Cordray.
FERGUSON, Mo.—Credit unions continue to play a role in helping Ferguson get back on its feet.
EL SEGUNDO, Calif.–There is a unique opportunity available to U.S. employers to address the American retirement crisis and to redefine how they measure the success of their retirement plans, according to Financial Finesse.
DENVER–A former regulator and lobbyist in California has been named to take over Colorado’s Division of Financial Services.
ARLINGTON, Va.–NAFCU has sent a letter to the Senate today in advance of a hearing at which a credit union CEO will be among those testifying.
CHARLOTTE, N.C.–Six banks, including BofA and Wells Fargo, have formed a real-time payments network that is open to all financial institutions.
ALEXANDRIA, Va.—After announcing in July it was seeking a “vibrant” new name that would reflect its membership, NARFE Premier FCU said it has found it. The credit union has changed its name to InFirst FCU.