SAN FRANCISCO--If credit unions believe strong backups alone are enough to blunt a ransomware attack, security experts say that assumption is becoming increasingly risky as threat actors shift their focus to the recovery systems institutions depend on most.
WINFIELD, Ind.— The $182.3-million REGIONAL FCU has named Michael Peters president and CEO, succeeding longtime leader Jill Banning following what the credit union said was nearly four decades of service and leadership.
WASHINGTON--America’s Credit Unions President and CEO Scott Simpson said Monday that while congressional Republicans are exploring a second budget reconciliation package, significant political and procedural hurdles remain.
WASHINGTON--The Treasury Department’s Financial Crimes Enforcement Network has proposed rules to fully stand up a long-awaited whistleblower program that would pay individuals 10% to 30% of collected monetary penalties if their tips lead to successful enforcement actions involving Bank Secrecy Act violations, sanctions cases and other illicit-finance offenses. FinCEN said the proposal was submitted Monday to the Federal Register as a Notice of Proposed Rulemaking.
CARMEL, Ind. – Allied Solutions announced the recipients of the inaugural Allied for Good: CU4Kids Grant, awarding 37 grants to credit unions and affinity groups in 19 states.
ALEXANDRIA, Va.—NCUA has launched the first phase of a new streamlined online charter application system, marking what Chairman Kyle Hauptman said is a key step toward making it easier to form new credit unions.
WASHINGTON— Credit card “swipe fees” could add nearly $600 million to Americans’ Easter spending this year, according to the Merchants Payments Coalition, which said the added cost underscores fresh pressure on Congress to revive the bipartisan Credit Card Competition Act.
WASHINGTON— House Financial Services Committee Ranking Member Maxine Waters (D-CA) is pressing the Federal Reserve Bank of Kansas City for more details on its decision to grant Kraken Financial access to the Fed’s payment system, demanding answers on what she called a novel “limited purpose account” that appears to fall outside existing statutory and regulatory categories.
WASHINGTON— An analysis in ABA Banking Journal argues that credit unions have sharply expanded commercial lending in ways that raise questions about mission, risk and oversight, contending larger institutions, low-income designated credit unions and those that have acquired banks are carrying significantly higher business-loan exposure than in the past.
WASHINGTON--Proposed data privacy legislation acknowledges existing financial institution requirements but brings some concerns. America’s Credit Unions detailed the important relief provided and additional recommendations in a letter to House Financial Services Committee Chairman French Hill (R-AR) and bill sponsor Rep. Bill Huizenga (R-MI).
