Links in “Credit Unions”

Nobel Prize in Economic Sciences goes to a Frenchman for his work on how governments can better regulate industries, including banking. Winner Jean Tirole says it takes strong government to enforce regulations, but the regulations have to be "light enough not to kill entrepreneurship." [10/14/14]

Research company sends mystery shoppers into six banks and finds that two-thirds of the time, consumers come away not understanding credit card terms. [10/14/14]

While most look at hiring more staff as the answer to increasing compliance demands, others have taken a different road: hiring software programmers to automate the work. (We might suggest a third alternative, but we get what the article is saying.) [10/13/14]

Dairy Queen is the latest retailer to admit that it has been the subject of a data breach due to the Backoff malware. While the breach that occurred between August and October of this year appears to have affected 396 stores, the CEO reports that to date they have no evidence that any customer information has been compromised. [10/13/14]

Jim Nussle, CUNA CEO, believes that credit unions and banks working together to promote certain legislative efforts could be key to moving things forward. He’s scheduled a meeting with the CEO of the Community Bankers of America Association to see if they can identify some common ground. [10/13/14]

The Texas Credit Union Department has liquidated $40 million County Municipal Employees Credit Union of Edinburg, TX. NCUA will act as the liquidating agent. The Texas regulator determined that the credit union was insolvent with no prospect of returning to a viable operation. [10/13/14]

A look at how a Russian-speaking group managed to get the credentials for 800,000 online banking accounts. [10/13/14]

Here's the anatomy of an advanced persistent attack, in which hackers break into a network, plant malware, and keep a low-profile until they are able to swipe the targeted data. [10/13/14]

Citing health reasons, Kirk Kordeleski, CEO of $5.6 billion Bethpage FCU in New York has tendered his resignation. COO, Wayne Grosse, has been named as Interim CEO. [10/10/14]

On October 22^nd, the federal banking regulators will be presenting a webinar on emerging fair lending issues. This is a hot button issue with all of the regulatory agencies, so don’t miss this opportunity to get direct information about their areas of concern. [10/10/14]