ARLINGTON, Va. - (11/11/04) Credit unions seem to be moving morequickly to reprice their products and services following changes inrates by the Federal Reserve, according to NAFCU Economist JeffTaylor. Ive only been working with credit unions forabout four years, but back when the Fed was dropping rates, creditunions were slow to reprice, particularly their shares, hetold The Credit Union Journal. Now they seem to be repricinga little faster than in the past. Its important thatcredit unions are nimble when rates move up or down, he said,noting, you can get behind, and then when it comes time tochange your rates, you have to move them by a bigger chunk, andthat can upset members.
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After passing the Federal Reserve's stress tests with high marks, large banks announced dividend increases. In some cases, they also said the Fed had conceded that certain prior calculations needed to be revised.
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A team of ex-First Republic private bankers hopes to serve entrepreneurs who once worked with Silicon Valley Bank.
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The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.
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The conviction of a fraud ring mastermind highlights growing risks in home equity lines of credit as equity-rich borrowers become prime targets.
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