LOS ANGELES—The persistently strong, massive fires burning across Los Angeles County have one credit union executive wondering how long the blazes will last and how long members will need support.
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CHICAGO—New data show a big jump in synthetic ID fraud for auto lending, and TransUnion believes the issue is lenders are moving too fast to close loans—and crooks know it.
LOS ANGELES—The wildfires in Los Angeles County continued to spread Thursday, and damage from the massive wind-driven flames could make this one of the costliest wildfire disasters in U.S. history.
WASHINGTON—This year credit unions may find themselves in one of their toughest fights to preserve their tax-exempt status, Washington insiders are saying, adding the “black eyes” CUs have suffered regarding overdraft fees, and even stadium and sports team sponsorships, are contributing to problems.
OMAHA, Neb.– In September of 2024, one analyst raised questions about how $66.9-million Creighton Federal Credit Union could lose more than $12 million in a 12-month period.
BALTIMORE—Maryland’s Office of Financial Regulation is one of the first states to use a new solution that monitors cybersecurity threats to regulated institutions. The office’s commissioner believes use of the tool could eventually spread across the country.
MILWAUKEE—A new study suggests banks and credit unions are approaching a crossroads in 2025--and one big hurdle for CUs is digital transformation.
TUCSON, Ariz.–One credit union that has introduced a unique, adjustable-rate mortgage says to effectively launch the product the credit union had to first deal with the “misconceptions” of the adjustable-rate offer brought on by the last financial crisis.
LIVONIA, Mich.—With less than two days remaining in 2024, the record number of CU/bank buys this year reached 22 Monday, as $839-million Zeal Credit Union agreed to purchase $147-million Gogebic Range Bank, based in Ironwood, Mich.
CHICAGO—The Illinois CU League and America’s Credit Unions are jointly working on a supplemental brief for the U.S. District Court here that will hopefully lead to credit unions being included in a preliminary injunction that pauses implementation of the Illinois Interchange Fee Prohibition Act (IFPA).