Data breach numbers climbing for 2016

Eddie Bauer reported last week that its point-of-sale systems at the company’s retail stores were compromised in a malware attack that enabled “unauthorized parties” to gain access to payment card information. Transactions with the company’s online store were not affected by the breach. The announcement from Eddie Bauer comes just a few days after an announced […]

CUAid activated for credit union members and staff hit by Louisiana flooding

The National Credit Union Foundation (the Foundation) has activated the online disaster relief system, CUAid.coop, to raise money for credit union people in Louisiana affected by recent flooding. Credit union supporters in every state can make donations at the website. CUAid is the only program of its kind that enables credit union employees, volunteers,and members, as well […]

Presidential election: What credit unions might expect

The U.S. presidential election is on the horizon, and cooperatives have concerns about what the future holds for their members.  In response to these concerns, CUNA has launched a campaign that stresses the role of credit unions in empowering the country’s middle class. The online platform, middleclass2016.com, encourages people to sign a petition to call on the two […]

CFPB hearing focuses on debt collection for now

CFPB unveiled a proposed rule on debt collection yesterday at the Consumer Financial Protection Bureau (CFPB) field hearing in Sacramento, CA. The 117-page proposal, released a day early, impacts collection agencies, debt buyers, collection law firms, and loan servicers. At this time, credit unions were not impacted by this proposal. The agency said it plans […]

NCUA strategic plan includes removing the calendar-year exam requirement

Yesterday, following a vote of 2-0, the NCUA board approved its 2017-2021 strategic plan and in doing so highlighted its commitment to reducing the regulatory burden on CUs and possibly extending the exam cycle for well-run CUs. The new plan includes removing the calendar-year exam requirement. In adopting the plan, the board removed two agency performance […]