The Leagues provide its Member's First philosophy in communicating "real time" comprehensive news and information. We focus on strategic, operational and the philosophical values of our membership. We work to advocate your interests, and position our member credit unions at the "top" of the financial services community.
View the latest news about credit unions in California, Nevada, and around the nation.
Find current and archived issues of the Leagues' award-winning magazine.
Take a visual journey and explore the faces behind the California and Nevada credit union movement at a number of events, meetings, fundraisers, and conferences!
Catch up on what California and Nevada credit unions are accomplishing within their communities every month!
CA, NV CUs CONTRIBUTE TO COMMUNITY
10/06/14 12:21 PM
Making a Positive Impact
Scroll down to view the latest on how credit unions and industry affiliates across California and Nevada are donating time and money to help the communities they serve, implementing new operational strategies for members, and advocating for the credit union movement!
Click to view the latest Member News
From the Editors of CU Weekly
'STOP PAYMENT' AND CASHIER'S CHECKS
|By Tom Wolfe, Managing Partner of Moore Brewer Wolfe Jones Tyler & North
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!