Ed Roberts

Long-term mortgage rates plunged again last week to record lows, putting more pressure on credit unions and other lenders who depend on loan interest as their bread-and-butter.

Under a proposal issued last week by the Consumer Financial Protection Bureau, credit unions and banks would be required to give concise disclosure of fees and interest rates to help compare loan terms in "plain language".

Financial regulators told Congress they are reviewing the need for expanded regulations over mobile payments, as the mass migration from paper money to electronic payments accelerates over smartphones and other personal devices.

Lawyers for NCUA asked a federal court last week to bar potentially embarrassing testimony by NCUA Board Members Debbie Matz and Gigi Hyland and former Chief Corporate Examiner Kent Buckham in the civil trial over the 2009 collapse of WesCorp FCU.

Litigation related to May's liquidation of Telesis Community Credit Union begins working its way through federal court.

Prevail CU and Harborstone CU of Tacoma announced plans to combine this afternoon to create another $1 billion credit union, the state's sixth.

1st Security Bank of Washington, a troubled former credit union known until 2004 as Washington's CU, announced this afternoon it raised $32.4 million with an initial public offering, the latest credit union-convert to go public.

State regulators this afternoon approved the merger of Massachusetts State Employees CU, a troubled one-time $77 million credit union in Boston, into giant Metro CU in adjacent Chelsea, Mass.

A federal court dismissed a suit brought by New York's Sperry Associates FCU over failed participations it bought from the MBLs CUSO of Eastern Financial Florida CU, the failed Florida giant that was acquired in 2009 by Space Coast Credit Union.

The National Credit Union Administration announced Saturday morning the completion of its liquidation of WesCorp FCU, marking the end of the most costly failure in credit union history.

Two credit union vendors have teamed up to make a $10,000 donation to Children's Miracle Network in honor of Virginia CU, which won the FIS/Unisys FIRST Award for 2012.

Ten high school seniors were awarded a $1,500 college scholarship from Point Breeze CU.

Vermont State Employees' Credit Union said it will provide $120,000 over the next three years in donations to help the Vermont Foodbank move food around the state.

Mountain America CU said its Mountain American Insurance CUSO is partnering with Moreton & Co. to provide commercial and health benefit insurance solutions to its business clients.

MidWest America FCU has signed with INVEST Financial Corp. to provide its members with brokerage and investment services.

A man believed responsible for Tuesday's robbery at Chase Bank was arrested after he walked into a Security Service CU branch in the same shopping center and tried to deposit the stolen money.

Lender Processing Services has acquired LendingSpace, a provider of mortgage loan origination software solutions.

The Arkansas CU League said it will begin using the "My Credit Union is Everywhere" video developed by CU*Answers as part of a statewide cooperative ad campaign.

Catalyst Corporate FCU reported it has completed its consolidation with Western Bridge Corporate following the transfer of core systems, billing, wire services and Internet connectivity.

State lawmakers approved new mortgage protections for California homeowners that prevent credit unions and banks from foreclosing on a mortgage holder who's applied for a modification.