NASCUS Report Archives
Would You Accept an NFT as Loan Collateral? Some Lenders Already Have.
Can non-fungible tokens (NFTs) disrupt the lending market? And should credit unions, which are showing heightened interest in cryptocurrency, be entering this space as well? Article courtesy of Ray Birch,...
Top 21 Emerging Cyber Threats and How They Work
June 7, 2022 — Cyber attacks, hacking, and data breaches are a growing threat. Yet, many companies could have prevented these threats with a bit of risk management and a...
FinCEN Issues Advisory on Elder Financial Exploitation
Urges Financial Institutions to Aid in Combatting Growing Threat June 15, 2022 — The Financial Crimes Enforcement Network (FinCEN) is issuing an advisory to alert financial institutions to the rising trend...
105 Countries Are Exploring Central Bank Digital Currencies, CBDC Tracker Shows
There are now 105 countries that are exploring central bank digital currencies (CBDCs). Among them, 50 countries are in an advanced phase of digital currency exploration (development, pilot, or launch)....
Senator Presses Treasury Secretary on Collection, Sale of Financial Data
Senate Banking, Housing, and Urban Affairs Committee Chairman Sherrod Brown (D-OH) has written to Treasury Secretary Janet Yellen, who oversees the Financial Stability Oversight Council (FSOC), to express concern with the...
Senate Confirms Harper to Full Term on the NCUA Board
June 8, 2022 – The U.S. Senate voted to confirm Todd M. Harper’s reappointment to the National Credit Union Administration (NCUA) Board until April 10, 2027. The U.S. Senate voted...
Marijuana & Bitcoin: Father and Son Caught Running $13M Empire from Starbucks
A father and son in Washington have been sentenced to five years in prison for running an illegal $13 million marijuana business alongside a lucrative Bitcoin-for-cash money laundering scheme. The...
Acting Comptroller Hsu Brings Crypto-Skepticism to Blockchain Summit
This week, Acting Comptroller of the Currency Michael Hsu gave remarks to the DC Blockchain Summit titled “Crypto: A Call to Reset and Recalibrate.” By speaking at the Blockchain Summit,...
Dimon Says Brace for U.S. Economic ‘Hurricane’ Due to Inflation
June 1 – Jamie Dimon, Chairman and Chief Executive of JPMorgan Chase & Co described the challenges facing the U.S. economy akin to an “hurricane” down the road and urged...
CMG Risk Alert: Ensure Remote Employees are Working in a Safe Environment
June 2, 2022 – As remote work and flexible work arrangements skyrocketed during the COVID-19 pandemic, the latest risk alert from CUNA Mutual Group warns that there is the potential...
Crypto Scammers Pose as Journalists, NFT Projects on Twitter
Thieves rely on profiles that appear legitimate to dupe users Americans reported $1.6 billion in stolen crypto last year Internet scammers are using hijacked accounts on Twitter Inc. to promote dubious cryptocurrency...
Member Benefit: NCUA Summaries
NASCUS has issued two summaries this week based on NCUA activities. Summaries require member log-in to review. The first was in response to Revised Guidance: Loans in Areas Having Special...