The latest "100-year" economic crisis to affect the global economy, which lately seems to occur every seven to eight years,
is the Euro-Zone debt crisis. The culprit: Too much borrowing and spending during the last decade.
Robert Korthase's 37 years of work on behalf of member and youth education received recognition from the National Endowment for Financial Education (NEFE) at its first Youth Financial Education Conference last week. READ MORE
"Credit unions' sole purpose is to improve the well-being of their members and the public at large," CUNA Chairman Dave Maus told the 250 attendees of the Youth Financial Literacy Conference, which the National Endowment for Financial Education (NEFE) hosted last week. "Credit unions are proud to be associated with the High School Financial Planning Program. Our efforts, enthusiasm, and pride are rooted in our history," he declared. READ MORE
The Colorado Division of Financial Services will hold a hearing July 13th to consider the final adoption of rules that require increased documentation for the approval of credit union mergers. READ MORE
Once the Financial Crimes Enforcement Network’s new customer due diligence rule becomes effective May 11, 2018, credit unions will be required to identify and verify the beneficial owners of business-type accounts.
Atlanta-based Arby’s restaurants has acknowledged a data breach involving approximately a number of its corporate-owned locations, reports Krebs On Security. The breach is estimated to have occurred between Oct. 25, 2016, and Jan. 19.
Federal Reserve Chair Janet Yellen testified before Congress this week, and her remarks match CUNA economists’ prediction of moderate economic growth in 2017. Perc Pineda, senior economist at CUNA, also predicted rate hikes this year.