The news: The Financial Services Regulatory Authority (FSRA) of Ontario is warning the province’s consumers about an unregistered credit union, Ottawa Federal Credit Union (Ottawa CU), which also seems to go by Ottawa Credit Union and Ottawa Canada Credit Union.

• The regulator has reported the website to the Canadian Anti-Fraud Centre, The Royal Canadian Mounted Police, the Competition Bureau Canada, and the Ontario Provincial Police, per The New York Times.
• Unlike the satirical website for the fake Flat Earth Credit Union, Ottawa CU doesn't appear to be geared toward entertainment.

What’s going on? Many warning signs led the regulator to issue this consumer guidance.