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Relevant Information—For You, By You
By Tom Wolfe, Managing Partner of Moore Brewer Wolfe Jones Tyler & North

'STOP PAYMENT' AND CASHIER'S CHECKS
updated 11/04/13 04:16 PM
Helpful Guidance for CUs
In August 2012, financial institutions across the country began receiving urgent requests to stop payment on un-cashed cashier’s checks sent to a popular online investment program.

In what turned out to be a $600 million Ponzi scheme, Rex Venture Group, LLC, doing business as ZeekRewards.com, was shut down by the U.S. Securities and Exchange Commission, and its more than 1 million customers were left scrambling to recoup their investments.

In recent weeks, court-appointed receivers began issuing demand letters to financial institutions seeking payment on cashier’s checks wrongfully rejected when first presented as a result of "stop payments."

Although the law hasn’t changed, we revisit the issues involved so credit unions can gain a better understanding of the factors surrounding this story and why they are important to know.

Click here to continue reading the latest Legal column on Page 17 within the October/November edition of Credit Union Digest!

 
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'BIG DATA' SPOTLIGHT: RISK OR REWARD updated 10/22/14 12:06 PM
Three Panelists Share Opinions
With Alessandro Acquisti as moderator, Wednesday’s audience was treated to a lively discussion—and a bit of back-and-forth debate—on the use of “big data” at credit unions and its ramifications.

SPEAKER DELVES INTO DATA PRIVACY updated 10/22/14 11:57 AM
The Credit Union Connection
As the Big Data Panel during REACH 2014 kicked off on Wednesday, it was apparent “big data” is everywhere and infiltrates all facets of our lives. But how much do consumers value their privacy, and what does it mean for credit unions?

SOCIAL CHARM: INGREDIENT FOR SUCCESS updated 10/22/14 07:59 AM
Chen Lizra at REACH
“Engagement” is one of the top buzz words circulating around REACH 2014—and TED speaker, business consultant, and author Chen Lizra shared some unique insights during the general session on Tuesday. Her buzz word: “social charm.”

INNOVATION PANEL SPURS TAKE-AWAYS updated 10/22/14 05:21 PM
Three CU Industry Perspectives
Attendees at REACH 2014 received a plethora of ideas from Tuesday’s innovation panel to take back to their credit unions—not the least of which included more interaction between employees and leaders, and free-flow of ideas from the bottom up.