Links in “Credit Unions”

Reports of breach that began on Black Friday and lasted until Dec. 15. 40 million shoppers at Target's physical stores may have been targeted. [12/19]

Test of 275 banking apps from 150 financial institutions finds 8 in 10 improperly configured and not using best practices software development. [12/19]

Social media interaction with customers expected to receive greater scrutiny; banks should have support in place to handle customer service requests through Twitter and Facebook. [12/19]

Using technology in financial institutions is a double-edged sword. On the one hand, it exponentially increases efficiency and accessibility; on the other, insufficiently trained technology staff often fail to prevent security breaches. Attorney Anthony Hendricks gives sage advice on how to avoid the potential problems ushered in with growing technologies. [12/18]

Increasingly, credit unions are taking the approach that the more information they share about card breaches and fraud with their members and other credit unions, the more effective everyone will be in combating fraud. [12/18]

When agencies issue "policy statements" or other guidance that may not be specifically within the scope of a regulation, challenging actions based on that guidance can result in prolonged battles with agencies and the courts, as a real estate agent recently found out. [12/18]

Attendees of CUNA’s GAC conference in 2014 will have an opportunity to hear Tony Blair, former British Prime Minister, provide his analysis of world events. The conference, which usually draws about 4,000 attendees, will begin on February 23^rd in Washington, DC. [12/17]

In the past year, Harland Financial Services purchased the UltraData platform. Fiserv purchased Open Solutions and then announced it was discontinuing its Acumen initiative. Still, Jack Henry’s Symitar platform continues to dominate the market for credit union operating systems. [12/17]

After only five months on the job, Chris Johnson is out as president/CEO of the Idaho Credit Union League. Interim president/CEO, Kathy Thomson, could not confirm whether Johnson’s departure was voluntary or not. Before joining the League, Johnson was a former vice president of state governmental affairs with CUNA. [12/16]

In this week’s edition of “The Cheney Report,” CUNA CEO Bill Cheney says that NCUA may be issuing a proposed rule on risk-based net worth requirements as early as January, 2014.  The agency has stated that replacing the existing one-size-fits-all approach with a risk-based approach will better protect credit unions and consumers from loss. [12/16]