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LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

May 1, 2015

NEW: Broad House data security bill introduced with strong CUNA support

Washington
WASHINGTON (5/1/15, UPDATED 12:22 p.m. ET)--A bill that would establish a national data security standard was introduced this morning, and has CUNA's strong support. The Data Protection Act of 2015 was introduced by Reps. Randy Neugebauer (R-Texas) and John Carney (D-Del.), and would establish a process for companies of all sizes to follow in order to secure consumer data. ReadMore

CUNA-sought changes in NCUA final FOM rule: Input sought on IOLTAs

Washington
The National Credit Union Administration board approved its final associational common bonds rule Thursday, a rule that included a number of CUNA-suggested improvements from the original proposal. ReadMore

CUNA assesses House, Senate patent assertion legislation

Washington
CUNA remains concerned about a very narrow definition of "bad faith" for patent assertion letters that would trigger enforcement actions under the Targeting Rogue and Opaque Letters Act. The House Energy and Commerce Committee approved the bill 30-22 this week. ReadMore

CU Youth Month goes out with a roar

CU System
CUNA expanded its annual youth financial literacy campaign to a full month this year, and the response from credit unions was overwhelming for the new National Credit Union Youth Month. ReadMore

New Senate bill tackles merchant data protections

Washington
A coalition of six Democratic senators introduced a data protection bill Thursday that would, in part, require companies that store sensitive personal or financial information on 10,000 customers or more to meet specified consumer privacy and data security standards to keep this information safe, and notify the customer within 30 days of a breach. ReadMore

Debit rewards attract younger consumers: Mercator

CU System
When asked "debit or credit," young consumers would be more inclined to say "debit" if a rewards program was attached to the action, according to recent research from Mercator Advisory Group. ReadMore

Jobless claims tumble to 15-year low

Market
Initial claims for unemployment dropped by 34,000 to 262,000 during the week ending April 25, the lowest number of jobless claims since the turn of the century. ReadMore

Two banned from FI work in NCUA prohibition orders

Washington
For alleged bank fraud and embezzlement, two individuals were banned by the National Credit Union Administration from participating in the affairs of federally insured financial institutions. ReadMore

New Bethel FCU in Virginia is conserved

Washington
The National Credit Union Administration late Thursday announced it placed New Bethel FCU, Portsmouth, Va., into conservatorship. ReadMore
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News Now LiveWire
The @CUNA HR/TD Council will now go by the name @CUNA HR & Organizational Development Council.
1 day ago
@Experian and @PonemonPrivacy study: 68% of payments systems execs say pressure to migrate to new payments systems puts data at risk
38 minutes ago
.@CUNA-sought changes in @TheNCUA final FOM rule: Input sought on IOLTAs read News Now: http://t.co/Y0eBw0Q3vi
1 hour ago
Breaking at #NewsNow: Broad House data security bill introduced with strong @CUNA support http://t.co/Ojgo2VQttB
1 hour ago
Payments Security Task Force, @PCISSC, @EMV Migration Forum program for Value Added Resellers, Ind. Software Vendors http://t.co/4lfngv3xGO
2 hours ago