Governance-Oversight

• California regulator settles cybersecurity case with Patelco Credit Union after 2024 ransomware attack settled

  California's DFPI settled cybersecurity violations with Patelco Credit Union for $100,000 after a 2024 ransomware attack disrupted banking services for weeks and exposed member data.

• Former CEO of merged Indiana credit union sentenced for fabricating board approval on insider loans adjudicated

  A federal court found that a former credit union CEO submitted fraudulent loan applications to himself and falsely claimed the board of directors had approved them.

• Former manager barred by NCUA after loan-fraud consent order, months after Illinois credit union's collapse settled

  NCUA barred a former credit union manager after a consent order describing fraudulently prepared loans; she settled without admitting wrongdoing, and the credit union had already been liquidated.

• Former manager convicted of decade-plus, $750,000 embezzlement at Kansas credit union adjudicated

  A federal court convicted a 30-year credit union manager of falsifying records to hide a scheme that drained the institution's capital and forced it into a merger.

• NCUA orders BSA and recordkeeping fixes at Inter-American Federal Credit Union settled

  NCUA's 2022 consent order required a Brooklyn credit union to fix BSA, OFAC, and reconciliation gaps without admitting the underlying findings; it was liquidated in 2023.