In the News
FBI Report: More Than $1.26B Stolen from Crypto Sector in Q1 2022
Cyber Criminals Increasingly Exploit Vulnerabilities in Decentralized Finance Platforms to Obtain Cryptocurrency, Causing Investors to Lose Money SUMMARY The FBI is warning investors cybercriminals are increasingly exploiting vulnerabilities in decentralized...
American Banker’s Inaugural List of Most Powerful Women in Credit Unions
August 29, 2022 — American Banker’s Most Powerful Women in Credit Unions celebrates the senior executives guiding the future of the credit union industry, while also examining issues of mentorship...
Who Are the Best Credit Unions to Work For in 2022?
August 30, 2022 — The Great Resignation has made it difficult for businesses to retain and attract talent, but the institutions on this year’s Best Credit Unions to Work For...
BofA, BMO Push to Close Racial Property Ownership Gap
Aug. 31, 2022 — Bank of America and BMO Harris are leaning into real estate aid with programs designed to close the racial property ownership gap. Bank of America launched...
Top Tips for Securing Board-Level Buy-In for Cybersecurity Awareness Campaigns
August 24, 2022 — With CyberSecurity Awareness month fast approaching, information security professionals and data protection managers will be looking at how to secure board-level buy-in for company-wide cybersecurity awareness...
From Callahan: Subordinated Debt Levels Surge After Regulatory Changes
Aug. 22, 2022 — Updated rules from the National Credit Union Administration have resulted in a massive jump in the number of credit unions issuing subordinated debt and the overall...
Banks Nearing $1B Settlement Over Use of Banned Messaging Apps; Federal Regulators Intend to Levy the Fines
August 19, 2022 — Many of Wall Street’s biggest banks are nearing agreements to pay as much as $200 million each and admit that their employees’ use of personal messaging...
MEMBER BENEFIT: NCUA Summary and FinCEN Summary + Comment Letter
Agency: National Credit Union Administration Joint Policy Statement Summary: Prudent Commercial Real Estate Loan Accommodations and Workouts The NCUA, FDIC, and OCC have published a joint policy statement on Prudent Commercial Real...
CFPB Gets Earful on Limiting Credit Card Late Fees
The Consumer Financial Protection Bureau is taking heat from banks and credit unions over its proposal to limit increases in credit card late fees that would otherwise increase because of...
Equifax May Face Class-Action Suit After Credit-Score Glitch
Plaintiff claims inaccurate score cost her more on auto loan; Company says majority of credit seekers saw no shift in scores August 4, 2022 — Equifax Inc., the second-biggest global...
MEMBER BENEFIT: NCUA and CFPB Summaries Available
Agency: National Credit Union Administration Final Rule Summary: Asset Threshold for Determining the Appropriate Supervisory Office; Office of National Examinations and Supervision (ONES) The NCUA Board is amending its regulations...
Wolf in Sheep’s Clothing: How Malware Tricks Users and Antivirus
August 2, 2022 — One of the primary methods used by malware distributors to infect devices is by deceiving people into downloading and running malicious files, and to achieve this...