InfoSight Spotlight: Same-day ACH payments deadline approaches

This week’s InfoSight newsletter alerts credit unions to changes in Same Day ACH payments. On Sept. 23, 2016, Same Day ACH, an amendment to the NACHA Operating Rules, will become effective, allowing ACH users to send same-day ACH credit payments. The rule will enable ACH originating depository financial institutions (ODFIs) that want to utilize same-day […]

Foundation Board seeks nominations for three posts

The National Credit Union Foundation (the Foundation) is currently seeking nominations for three board seats. Volunteers may generally serve up to three terms of the duration of the term of office for the seat they are selected, as long as they are re-nominated by the Foundation Nominations Committee and re-elected by the Foundation Board. For […]

NCUA’s Metsger examines cybersecurity in board meeting

During a public briefing at yesterday’s board meeting, the National Credit Union Administration (NCUA) said the combination of technological innovation, expansion of social media, and growing interconnectivity are causing concern about credit unions’ cybersecurity efforts. Representatives of the agency’s Office of Examination and Insurance said the changing landscape of cybersecurity carries “more sophisticated” risks and […]

CUACG provides protection in wake of Wells Fargo scandal

Sen. Richard Shelby, R-AL, chairman of the Senate Banking Committee, decided Monday to hold committee hearings to determine from Wells Fargo how more than 2 million credit card and bank accounts were opened in the names of customers. Since 2011, Wells Fargo employees have set up credit cards without customers’ consent resulting in fines of […]