Call centers emerge as more members are willing to do business via the phone, or automated phone system * The California banker's legal challenge to NCUA's chartering authority is assigned to same judge who previously called NCUA a "rogue" federal agency * Ed Baranowski, CEO of Fairwinds FCU, proposes giving up the tax exemption for a truce on FOM * Michael Dusche of Microsoft tells NAFCU Technology Conference that all the discussion surrounding online security is misplaced, noting that no one has ever cracked 48-bit encryption, and certainly not come close to 128 bit * NAFCU rejects any talk of a merger with CUNA * CUNA holds its first elections following Renewal Project. One interesting result: no volunteers were elected to CUNA board, despite that being one goal * Texas CUs finally are permitted to make home equity loans * Bankruptcy reform bill debuts in Congress * CUNA Chairman and Motorola Employees CU-West CEO Pete DiSylvester dies at age 62 * Legislation is proposed to ban ATM surcharges * George LaChappelle of the Michigan league, on hand in 1966 to help build time capsule, is on hand in 1997 to open it. * Kansas CUs charge that Dodge City-based Landmark BancShares is sending $1,000 checks to various CUs seeking to open CDs to prove CUs are illegally opening accounts * The New York Times, in an editorial, criticizes the CU tax exemption * Michigan's CUs roll out a program to teach computer skills to new hires who lack them * NCUA's Asset Liquidation Management Center earns $5.3 million when it sells livestock it had acquired as part of a liquidation * Eight small CUs in Indiana form "Small Credit Union Managers" group, or "SCUM" * Federal Employees CU, whose offices were destroyed in the 1995 Murrah Federal Building bombing in Oklahoma City, breaks ground on a new office * Richmond Savings CU, Canada, creates humorous campaign around "Humungous Bank" theme. One ad reads, "We're not just interested in money. We're interested in people with money." * Alabama's largest newspaper gives front page treatment to a story on ACUL CEO Gary Wolter's pay * 1st Advantage Credit Union hires Howard Stern as a spokesperson * Y2K planning begins.
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The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
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Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
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Strong consumer spending and cross-border activity drove an 8% increase in Visa's total payments volume during the first quarter of the year, although Asia's economic recovery is taking longer than expected.
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Mastercard launches service to fight instant-payment fraud, EU may green-light Apple's NFC-access plan, and more.
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The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.
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The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
April 24