A software program that seeks to uncover fraud and other financial losses common to credit unions is available from the Credit Union Executives Society, Madison, Wis. The I/A Expert software is designed to help auditors prioritize the areas where credit unions stand to lose the most. It also provides work programs and questionnaires to define responsibilities of internal audits, set schedules, document findings, and prepare reports. The price of the software is $975 for members and $1,500 for nonmembers.
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Todd Lane, the CEO of California Coast Credit Union, described an allegation by an executive at San Diego County Credit Union as "categorically inaccurate." The two institutions are locked in a legal fight after their agreement to merge turned contentious.
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Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
March 20 -
Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
March 20 -
Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
March 20 -
Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
March 20









