CHICAGO—Three Chicago-area defendants, and a fourth defendant from Decatur, Ga., have been convicted of federal bank fraud charges for engaging in a scheme to fraudulently obtain 51 luxury automobile loans totaling approximately $1.6 million without ever intending that the borrowers would purchase the high-end cars that they claimed to be buying, according to the FBI.
Fresh Today
ROSEBURG, Ore.—Bob Dempsey has been named as the new president/CEO of the $159-million Cascade Community CU here.
MADISON, Wis.—The World Council of Credit Unions and CUNA have announced two keynoters for the joint America’s CU Conference/World CU Conference, scheduled for July 12-15 in Denver.
WASHINGTON – Two long-serving Minnesota credit union presidents – Steve Ahlness and Bill Raker – have been inducted into the Credit Union House Hall of Leaders in recognition of their dedication to upholding the credit union mission.
ALEXANDRIA, Va.—NCUA has launched a new video series about Community Development Financial Institutions and the process for obtaining CDFI certification.
NEW YORK—Municipal Credit Union will begin offering wealth management services to its members. The MEMBERS Financial Services program is a comprehensive service which includes financial planning, retirement planning, and a portfolio of investment products, including stocks and bonds, mutual funds, and tax-deferred investments.
ARLINGTON, Va.—NAFCU has added Alexander Monterrubio and Kavitha Subramanian to its team of regulatory affairs counsels.
MADISON, Wis. – Chuck Fagan has resigned as CEO of the Credit Union Executives Society in order to take over as CEO of Tampa, Fla.-based PSCU. The move is effective April 10.
WASHINGTON—The Consumer Financial Protection Bureau is finalizing a policy it said is designed to empower consumers to voice publicly their complaints about consumer financial products and services.
ARLINGTON, Va.—NAFCU has sent a letter to NCUA expressing appreciation for the agency’s participation in the Economic Growth and Regulatory Paperwork Act (EGRPRA) review, but said the bigger issue remains that “the regulatory pendulum post-crisis has swung too far towards an environment of overregulation that threatens to stifle economic growth.”