70 senators ask CFPB to ease regulatory burden for credit unions

An overwhelming, bipartisan majority of 70 U.S. senators have added their voices calling on the Consumer Financial Protection Bureau (CFPB) to tailor rulemakings to protect credit unions from regulatory burden. The combined advocacy efforts of CUNA and state credit union leagues bring total congressional support from both chambers to 399 signers. LSCU’s advocacy team worked […]

Fraud has impacted almost one third of consumers worldwide

Despite the adoption of fraud prevention solutions by financial institutions and merchants, along with EMV being implemented in most countries including the U.S., card fraud rates are on the rise. Nearly one in three consumers has been victimized, according to a recent surveys report by ACI Worldwide (NASDAQ: ACIW) and Aite Group. With 2,260 confirmed data breaches in 2015 […]

Herrera selected for seat on NCUA Board

Yesterday, President Barak Obama announced the nomination of John A. Herrera to the open seat on the National Credit Union Administration Board. Herrera is the senior vice president for Latino and Hispanic Affairs at Self-Help, a nonprofit community development financial institution, a position he has held since 1999. From 2003 to 2010, Herrera served as […]

Consolidation is a growing trend, especially for smaller credit unions

Consolidation has been a growing trend in the credit union community for many years due to a variety of factors. Indeed, numerous CUs have “disappeared” from the landscape — either through mergers (forced and otherwise) or liquidation — every year for at least the past 15 years. It usually is the smaller institutions, that is those with […]

Bill to restructure CFPB moving forward

Recent news reports indicate the CFPB may be in store for change via the Financial Services and General Government Appropriations Act . The U.S. House of Representatives passed the $21.7 billion bill by a 239-185 party line vote. Changes include bringing funding for the bureau under the Congressional appropriations process and replacing the single director leadership structure […]

LSCU & Affiliates Contributes $15,000 to OneOrlando Fund Following Shootings

The League of Southeastern Credit Unions & Affiliates (LSCU) contributed $15,000 to the OneOrlando Fund. The trade association for credit unions in Alabama and Florida hosted its annual Southeast Credit Union Conference & Expo (SCUCE) in Orlando, Fla., just days after the shooting at the Pulse nightclub. Orlando is a major credit union city in […]