MADISON, Wis.—Keeping ahead of the complex array of constantly changing risks is challenging for CUs, says CUNA Mutual Group, which outlined the latest fraud trends that should be on credit unions’ radar.
MADISON, Wis.—Getting money from the credit union should be as easy as getting a drill from Amazon, asserts one expert who reminds that major retailers have forever changed member expectations for service and ease of interaction with a financial institution.
NEW YORK–The AICPA’s Financial Reporting Executive Committee has issued working drafts of accounting issues related to the implementation of Accounting Standards Update (ASU) No. 2016-13, Financial Instruments-Credit Losses and is requesting feedback on issue paper Reasonable and Supportable Forecasting.
ATLANTA—Another report reveals consumers are pulling back from vehicle purchases.
SEATTLE–The software engineer who has been accused of breaching Capital One to steal information on more than 100-million people also stole data from at least 30 other companies, according to prosecutors.
SAN JOSE, Calif.–Provident Credit Union said it has reached an $8.1-million, 20-year deal with San Jose State University to rename The Event Center at SJSU the Provident Credit Union Event Center.
WASHINGTON—The Federal Housing Finance Agency (FHFA) has issued a final rule to evaluate new credit scoring models for use by the government-sponsored enterprises (GSEs) that includes a change to encourage competition by allowing more developers to submit models for consideration.
LONG BEACH, Wash.–A former employee of Great Northwest Credit Union is in jail after stealing over $9,000 from members.
WASHINGTON—NAFCU and the Defense Credit Union Council (DCUC) said they continue to press Congress on a potential law change that would require the Department of Defense (DoD) to give banks the same access as credit unions to nominal leases on military bases.
WASHINGTON–Student loan giant Salle Mae Corp. is reportedly preparing its investors for a big hit to its balance sheet as a result of CECL.