Skip to main content

Why Does U.S. Lead World in Credit Card Fraud?

Meanwhile, a handful of banks and credit unions have started issuing EMV cards to select customers, primarily American travelers who have run into trouble with magnetic stripe credit card acceptance abroad. Last August, Visa announced an **** READ MORE: Why Does U.S. Lead World in <b>Credit</b> Card Fraud?:

Comments

Popular posts from this blog

Making the Most of the Final Five Years Before Retirement

  NATIONAL COUNCIL OF FIRST RESPONDER CREDIT UNIONS RETIREMENT READINESS Making the Most of the Final Five Years Before Retirement A practical planning guide for first responders, credit union volunteers, employees, and their families Five years before retirement is an important checkpoint. It is the time to confirm what you have saved, understand the income you can expect, and decide whether your retirement plans match the life you want to lead.   1. Review Your Retirement Savings Start by taking a fresh look at your retirement accounts, personal savings, investments, and other assets. A retirement calculator can help estimate whether you are on track and show how additional saving during the next five years may strengthen your plan.   2. Identify Every Source of Retirement Income List the income you may receive in retirement, including pensions, Social Security, retirement-plan withdrawals, invest...

NCUA Board Approves 11 Final Rules for Deregulation Project

Alexandria, VA (August 5, 2026) ― The National Credit Union Administration (NCUA) today finalized eleven rules that were proposed for changes through the Deregulation Project. This is the first round of final rules from the ongoing Deregulation Project which is an initiative to review NCUA’s regulations and ensure they are focused on credit unions’ safety, soundness, and resilience. The final rules include: This is an external link to a website belonging to another federal agency, private organization, or commercial entity. Surety and Guarantor Requirements – 12 CFR 701.20(c)(3) and 701.20(d) (Opens new window) This is an external link to a website belonging to another federal agency, private organization, or commercial entity. Limits on Loan to Other Credit Unions – 12 CFR 701.25(b) (Opens new window) This is an external link to a website belonging to another federal agency, private organization, or commercial entity. Service to Underserved Areas – IRPS 08-2 (Opens new window) This is...

What’s Ahead for U.S. Economy? Here’s What One Former Fed Chair is Saying

 WASHINGTON–Former Federal Reserve Chairman Ben Bernanke, who headed the central bank during the 2008 financial crisis, is now warning that the United States is headed for a situation similar to that of the 1970s, when Americans were losing their jobs but still facing higher prices at the grocery store and at the pump. Ben Bernanke “Even under the benign scenario, we should have a slowing economy,” Bernanke told the New York Times in an interview in conjunction with his new book, “ 21st Century Monetary Policy: The Federal Reserve From the Great Inflation to Covid-19 ,” which is scheduled to publish today. “So, there should be a period in the next year...

New Consumer Due-diligence Requirements Mean Credit Unions Have to Change Bank Secrecy Act (BSA) Procedures

Starting May 11, 2018, credit unions and other financial institutions are required to have new procedures in place when it comes to customer/member due-diligence, primarily involving “beneficial owners” and “legal entity” members, reminded CUNA. But the trade association reported that the new requirements do not mean credit unions have to update member information on a continuous or periodic basis. “The rule does not require credit unions to update member information on a continuous or periodic basis. The updating requirement is event-driven and only occurs as a result of detecting unusual activity through normal monitoring,” CUNA stated. The new procedures required by May 11, 2018, are: Procedures to identify and verify beneficial owners of legal entity members.  Procedures for making and maintaining a record of all the identification and verification information collected for beneficial owners of legal entity members.  Appropriate risk-based procedures for...

Senate, 51-47, has confirmed John Crews to the NCUA board

WASHINGTON—The U.S. Senate, 51-47, has confirmed John Crews to the NCUA board, clearing the way for him to succeed Kyle Hauptman and return the agency to a single-member board following the Trump Administration's removal of Democratic board members Todd Harper and Tanya Otsuka earlier this year. Maintaining the foundational stability of the credit union system Supporting efficient, risk-based regulation that accounts for institutional size and operational differences Preparing for technological advancement while safeguarding member assets Encouraging the growth of new credit unions to serve underbanked and military communities Preserving an open, accessible, and collaborative dialogue between the NCUA and the credit union movement Crews, who most recently served in the Treasury Department, has said his priorities include reducing regulatory burden for smaller credit unions, encouraging innovation and supporting the chartering of new credit unions, while maintaining the safety and s...

Sunday Reading - We Hold These Truths to Be Self-Evident

We Hold These Truths to Be Self-Evident .  The Declaration of Independence is the founding document that formally announced the American Colonies' break from British rule. Adopted on July 4, 1776, it laid the philosophical and moral foundation for American self-governance, asserting that individuals possess inherent rights and that governments must be accountable to the people. While it didn't create a government or legal framework, the Declaration marked the birth of the United States as a sovereign nation. >  Hear why the Continental Congress decided to declare independence, how the text took shape...

Fed Keeps Interest Rates on Hold in Split Decision at Final Meeting of Powell Era

  By  Keith Griffith April 29, 2026 In an unexpectedly close split decision,  Federal Reserve policymakers  have decided to keep interest rates on pause in what is likely to be the final meeting under the supervision of Fed Chair  Jerome Powell . Powell joined the 8-4 majority on the  Federal Open Market Committee  to vote in favor of leaving the  federal funds rate unchanged  at Wednesday's meeting in Washington, DC, judging inflation as running too hot to justify a rate cut. At a press conference after the vote, Powell revealed that he will remain on the board of governors as a regular member after his term as chairman ends, saying: "After my term as chair ends on May 15, I will continue to serve as a governor for a period of time to be determined. I plan to keep a low profile as a governor. There is only ever one chair of the Federal Reserve Board." Read the complete story here.

New CEO Named at SF Fire CU

  In San Francisco, – SF Fire Credit Union has appointed Robert Kassab as its president and chief executive Officer. Kassab, who has served as the $1.6-billion credit union’s CFO and most recently as Interim CEO, will lead the organization as it builds on 75 years of community service and pursues an ambitious strategy for growth and member impact, the credit union said in a statement. Robert Kassab “SF Fire Credit Union has a 75-year legacy of doing right by its members, and I take that responsibility seriously,” Kassab stated. Kassab joined SF Fire Credit Union in 2022 as CFO, where he played a central role in strengthening the institution’s financial foundation and positioning the credit union for long-term growth. His appointment as CEO follows a period of interim leadership, during which he worked closely with the board to develop a strategic vision for the credit union’s future, according to SF Fire. An Institution That ‘Deserves Them Back’ “SF Fire Credit Union was built on ...

Houston Texas Fire Fighters Federal Credit Union Video

One of the discussions at NCOFCU's Denver conference was, "how do you attract members?" Here is an example of how Houston Texas Fire Fighters Federal Credit Union does it.

Supreme Court Won't Hear FOM Appeal ABA Rendering Case Void

On Monday, the Supreme Court of the United States denied an appeal from the American Bankers Association to review the NCUA’s field of membership (FOM) rules. This decision by the Supreme Court brings to an end an almost four-year legal battle by the AMA against the NCUA. Shortly after the Supreme Court’s decision, CUNA, NAFCU and CUNA Mutual Group released a joint announcement stating the groups “have long supported the rule and the NCUA’s authority to provide oversight for the credit union industry.” “Today is a great day for anyone hoping to access the financial well-being afforded by credit unions,” said CUNA President/CEO Jim Nussle. In denying the bankers’ lawsuit, the Court has established credit unions’ mission and structure as part of the fabric of America. In recognizing the NCUA’s right to oversee our system, the Court has also established a much-needed firewall from spurious attacks by the bankers. CUNA looks forward to working with the NCUA and credit unions to find new ...