Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Michigan fraudster pretending to be CU is closed
LANSING, Mich. (4/10/09)—The Michigan Office of Financial and Insurance Regulation (OFIR) has slapped a cease-and-desist order on an entity claiming to be a Pennsylvania-based credit union, but which the regulator believes to be a bad actor stealing both money and identities. OFIR alleges that “Firststar CU” is a fraudulent financial institution, which advertised in Michigan newspapers and encouraged customers to apply for loans by providing upfront payments and personal information. It also advertised via a website, which was shut down after OFIR contacted the Web host. The state regulator urged consumers to have personal contact with a financial institution before entering into a business contract. It also recommended that consumers with questions could verify the identity of credit unions, banks and thrifts, through state or federal regulators. The Firststar case represents the second time in less than a month that Michigan's credit union regulator has issued a cease-and-desist order against a fake online credit union. In March, OFIR discovered a bogus credit union called Communal CU of Dearborn after consumers complained about its website. OFIR said that scam artists were promoting the fake credit union on the Internet to consumers looking for a break on a loan or wanting to refinance their mortgage. Consumers told OFIR they were asked to provide two pay stubs, Social Security numbers and bank account numbers, information that could be used for identity theft and unauthorized access to financial and card accounts.
Other Resources

RSS





print
News Now LiveWire
CUNA: CUNA offices closed through Friday, News Now returns Monday http://t.co/a5xbLzQKDj
12 24 ago
Reminder: @CUNA's Madison, D.C. offices will be closed through Friday, open again on Monday. #NewsNow will publish Monday.
12 23 ago
MI dentist to match @CUDirect's $20K to @HurleyMedical as a result of #20for20 online voting http://t.co/hqmIc9LpK1 @CMNHospitals
12 23 ago
New #creditunion chartered in St. Louis - #LutheranFCU - by @TheNCUA http://t.co/faPfANGS0P. Only 3rd new FCU charter this year.
12 23 ago
Don't get hacked during the holidays-use these tips from @CUNA http://t.co/jEqxni6NhO #StoptheDataBreaches http://t.co/woIxPOIyys
12 23 ago