NASCUS Report Archives
The Importance of Educating Members on Fraud Alert Procedures
“How do I know if it’s the credit union or a scammer?” The importance of educating our members on the fraud alert procedure. Have you ever received a call from...
Agencies Issue Guide to Assist Community Banks to Develop And Implement Third-Party Risk Management Practices
Federal bank regulatory agencies, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency, today released a guide to support community...
May 10: Recent CFPB Activities
The Consumer Finance Protection Bureau (CFPB) is responsible for consumer protection in the financial sector. CFPB’s jurisdiction includes credit unions, banks, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services,...
Treasury’s FIO Launches New Partnership with the NSF on Terrorism & Catastrophic Cyber Risks
This week, the U.S. Department of the Treasury’s Federal Insurance Office (FIO) hosted the 2024 International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP) Annual Conference. IFTRIP is a forum of...
Global Banking Regulators Target Mismanagement in Handling Risks from Clients
Global banking regulators on Tuesday proposed stricter standards for banks when assessing risks from customers to avoid the mismanagement highlighted by the collapse of Archegos, and episodes of volatility in...
May 3: Recent CFPB Activities
The Consumer Finance Protection Bureau (CFPB) is responsible for consumer protection in the financial sector. CFPB’s jurisdiction includes credit unions, banks, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services,...
TransUnion Report: 2024 State of Omnichannel Fraud
Trends and insights for enabling trusted commerce Global digital transaction growth following the pandemic pushed fraud to new heights in 2023. Identity-based fraud is accelerating as cybercriminals harvest more stolen...
News Klarna to launch credit card offering in the US “over the next few months”
Following successful debuts in Europe, Swedish buy now, pay later (BNPL) firm Klarna is now preparing to extend its credit card offering to consumers in the US. Klarna Card to launch in...
CFPB Takes Action to Stop Illegal Junk Fees in Mortgage Servicing
Homeowners forced to pay for “services” that were prohibited or unauthorized. The Consumer Financial Protection Bureau (CFPB) today published an edition of Supervisory Highlights describing the agency’s actions to combat junk fees...
Police Bust Cybercrime Phishing Subscription Network
Police have arrested 37 members of a criminal gang that operated a phish-for-subcription Website that duped up to 70,000 UK victims into entering their bank details at fraudulent internet sites....
NCUA Board Approves Advance Notice of Proposed Rulemaking on Records Retention
The National Credit Union Administration Board held its third open meeting of 2024 and unanimously approved an advance notice of proposed rulemaking that solicits stakeholder comments on ways the agency can improve...
April 19: Recent CFPB Activities
PUBLISHED APR 17, 2024 CFPB Takes Action Against Coding Boot Camp BloomTech and CEO Austen Allred for Deceiving Students and Hiding Loan Costs The Consumer Financial Protection Bureau (CFPB) issued an order...