OLYMPIA, Wash. - (12/20/05) -- Rather than play defense, officialsat Washington State Employees CU decided to take the offensiveagainst a series of phishing attacks. After the credit union wasalerted to a phishing email that linked members to a phony website, the credit union began inundating the fake web site with baddebit card numbers, hoping that the criminals would be confused andunable to distinguish between the fake numbers and any real onesmembers may have been fooled into sending them. They also contactedthe Internet service provider in Lithuania that was hosting thefake web site. It took about a day and half to shut down the phonyweb site.
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A team of ex-First Republic private bankers hopes to serve entrepreneurs who once worked with Silicon Valley Bank.
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The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.
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In a joint letter signed by over 50 bank trade groups, leaders in the banking industry urged regulators to revise bank regulatory thresholds upward to keep up with inflation.
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Dime Community Bancshares, which has added dozens of bankers over the past two years, is now ready to consider expanding its geography.
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The conviction of a fraud ring mastermind highlights growing risks in home equity lines of credit as equity-rich borrowers become prime targets.
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The Senate passed President Trump's tax and spending bill Tuesday, but questions around Consumer Financial Protection Bureau funding, 1071 delay and remittance taxes remain as GOP leaders scramble to pass the bill out of the House before Trump's July 4 deadline.
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