Sharon CU recalled about 140 MasterCard-branded debit cards last week after the card association notified it that accounts may have been compromised by a database hacking at an unidentified retailer. Mark Emerson, COO at the $275-million SCU, said they immediately recalled all of the cards and issued those members new ones. "There's no indication that any of the accounts have been compromised. There's been no incidents of fraud," Emerson told The Credit Union Journal. It is at least the fourth time over the past two years that member accounts at SCU have been potentially violated, including a recent hacking at a local shoe company that forced SCU to recall some debit cards.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3