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
Consumer Financial Protection Bureau Director Richard Cordray will step down from the agency by the end of the month after serving since 2013. CUNA President/CEO Jim Nussle said CUNA looks forward to a new era at the bureau, one that takes credit unions’ structure and purpose into account during rulemakings.
Credit unions now have less than six months to come into compliance with FinCEN's Customer Due Diligence rule, effective May 11, 2018, which includes provisions on identifying the beneficial owners of legal entity accounts.