Links in “Credit Unions”
- NCUA Signs New Collective Bargaining Agreement
The NCUA and the National Treasury Employees Union have signed a new 5-year collective bargaining agreement, which will ensure that NCUA employees receive compensation and benefits on par with the employees of the other financial services regulators. The agreement also implements pay caps for each pay grade in order to control costs. [7/9/15]
- Inside a Hacker’s Mind
A CUNA and NASCUS hosted cybersecurity event will feature a live hack demonstration. The symposium will be a good opportunity for a firsthand look at how a hacker might attack a credit union's system. The event will be held in Denver on Aug. 24-25. [7/8/15]
- More Voices call for longer TILA-RESPA Delay
Both the NAFCU and NASCUS have urged the CFPB to push back the effective date of the new regulations stemming from the integrated mortgage disclosures deadline. Both associations support the notion of moving the deadline all the way back to Jan. 1, 2016. [7/8/15]
- A New CU Is Born
The NCUA grants the third new federal charter of 2015. ELCA Federal Credit Union will also be the first new consumer federal credit union in Illinois since 2006. [7/8/15]
- New Mobile Payment Services Unveiled by MasterCard, Apple
This new biometrics payment service with confirm identity and authenticate online transactions via fingerprints or facial scans. The system was created in light of a new encryption standard from the Payment Card Industry Security Standards Council (PCI SSC). [7/7/15]
- The Sticky Fingers of a Credit Union Board Chair
More than $17 million was stolen from 400 investors in a wire fraud case concerning a Swedish-based credit union and a board member from Florida. The 65-year-old board member pled guilty and is scheduled to be sentenced in September. [7/7/15]
- NCUA FOM Rule Goes Into Effect
The NCUA's common bond rule went into effect yesterday, prompting the agency to send a letter to federal credit unions with guidance on the rule. The new field-of-membership (FOM) rule allows automatic FOM approval of 12 categories of associations: alumni associations, religious organizations, electric cooperatives, and more. [7/7/15]
- Data Breaches on Record Pace for 2015
We are on track in 2015 to see a new record set in the number of breaches and number of records exposed. In 2014, U.S. data breaches hit a record high of 783 with 85,611,258 confirmed records exposed. Through June 30, 2015, we have already experienced 400 breaches that exposed 117,576,693 records. [7/6/15]
- Kansas, Missouri Corporates Merge
Effective July 1st, the $206 million Missouri Corporate Credit Union merged into the $509 million Kansas Corporate Credit Union. Future plans call for a new name for the combined organization that serves the Midwest, Great Plains, and Montana. [7/6/15]
- Why the Debate Over Dodd-Frank Will Never End
Itâs been five years since the Dodd-Frank Act was adopted and it still remains a lightning rod for debate between those who see the legislation as a landmark law that has stopped abuses and risky behavior on the part of big banks and those who see it as an overly-broad and hugely burdensome regulation that is crippling small financial institutions. It will likely remain in the spotlight as the Act has still not been fully implemented. [7/2/15]
