INDIANAPOLIS – A story in the Jan. 4 Credit Union Journal Daily Briefing incorrectly stated that Michigan’s Capital Community CU suffered losses on loans backed by life insurance polices. The loans, which recently became delinquent, are the subject of a suit between FORUM CU and DFCU Financial, which acquired CapCom in 2009. CapCom failed because of losses on speculative Florida real estate loan participations it bought from Colorado’s Norlarco CU.
Seven federal agencies rescinded a 2022 guidance that encouraged creditors to offer special purpose credit programs to underserved communities.
The CEOs of BMO Financial Group and Scotiabank said Tuesday that potential impacts from the escalating trade war are "manageable." But analysts worry that the fight will continue to widen.
The Federal Deposit Insurance Corp. reported that strong profits and improvements in asset quality contributed to a strong earnings quarter for the banking industry, though capital declined and securities losses remained elevated.
The BankChain Alliance has signed up 37 state bankers associations, which are bringing along many of their nearly 4,000 members.
Most Americans are seeing their expenses go up, and lots of them are changing their spending habits as a result, which is sapping the economy's momentum.
In an age of employee burnout, credit unions stand out as places where workers are unusually satisfied with their jobs. Here are the best 70 to work for.
