Ed Roberts

The banking lobby remains irate over NCUA's announcement that 1,000 credit unions are immediately eligible for low-income status and thus exempt from the congressionally mandated cap on member business loans.

Massachusetts Gov. Deval Patrick has signed a new law that will make it harder for credit unions and banks to foreclose by requiring lenders to jump through additional hoops.

A new, national organization for nonprofit groups, American Nonprofits, is planning to charter its own credit union to provide credit and other forms of financing for an estimated 11,000 nonprofits nationwide.

Both Fannie Mae and Freddie Mac last week reported strong profits for the second quarter of 2012, indicating the worst of the real estate crisis may be over.

As many as 1,000 additional credit unions are eligible for NCUA's low-income designation and the exemptions it affords under a White House initiative unveiled last week to try to alleviate conditions caused by the historic drought plaguing much of the country.

State regulators approved the mergers of five more troubled credit unions yesterday, including two by Credit Union of Southern California, the $600 million Brea credit union's third merger of the past few months.

A purported holder of a patent on mobile and ATM deposits filed suit against San Diego County CU last week, claiming the credit union's use of the technology is infringing on its patents.

Space Coast Credit Union announced Thursday that NCUA and state regulators have approved the spin-off of its two Jacksonville branches to Alive Credit Union.

Alive CU, the former Blue Cross credit union known till last month as Healthcare's Cooperative CU, is expanding outside of healthcare facilities with a deal to buy two stand-alone branches from Space Coast CU.

PLYMOUTH, Minn. — NCUA announced this morning it has awarded the remnants of AM Community CU, a failed $135 million Kenosha, Wis., credit union, to TruStone Financial FCU under a purchase and assumption agreement.

LAKELAND, Fla. — MidFlorida CU, which has been growing its branch network on the Gulf Coast, has agreed to acquire Indian River CU, a troubled $55 million credit union on Florida's other coast.

CUNA Mutual Group said it has made $1.25 million of non-member deposits in three California community development credit unions to help stimulate development in their underserved areas under a state program.

A federal judge recently directed NCUA to provide thousands of pages of documents related to the 2010 failure of St. Paul Croatian FCU, the largest fraud in credit union history, to the biggest clamant in the liquidation.

Credit union CEO total compensation, including salary and bonuses, increased an average of 5.93% over the past 12 months, the highest since 2008, according to the 2012 CUES Executive Compensation Survey.

ALEXANDRIA, Va. — NCUA said this afternoon it has taken over Trinity CU, a troubled $4 million credit union in Trinidad, Colo.

ALEXANDRIA, Va. – Pentagon FCU announced this morning its Prudential PenFed Realty CUSO has acquired Prudential Professional Realty in Clarksville, Tenn., an independent franchise outside the Fort Campbell, Kentucky, military base, which has been rebranded as Prudential PenFed Realty.

Xceed Financial FCU has asked a federal court to compel a member suing it over its overdraft practices to submit to mandatory arbitration instead, as required under its standard membership agreement.

NEW YORK — Target Corp., one of the biggest retailers in the country, joined groups including the National Association of Convenience Stores in opposing the proposed $7.25 billion settlement of a lawsuit brought by a group of retailers against Visa and MasterCard and a dozen large banks.

SMITHFIELD, R.I. — Navigant CU announced this afternoon it merging troubled Columbus CU, a $68 million in nearby Warren, R.I., with two branches.

St. Helen's Community FCU hired a new CEO who immediately urged the board to terminate a merger agreement with nearby Wauna FCU, which would have created a $300 million credit union.