MIRAMAR, Fla. - (03/10/06) -- Although it hasn't flown since 1991,Eastern Airlines is being remembered on the cardfaces of newMasterCards now available to members of Eastern Financial FloridaCU, the $2 billion credit union spawned by the failed airline. Thecredit unions the former Eastern Airlines FCU and continues to havea large number of former Eastern Airlines employees among itsmembers. The new cards are embossed with historic images of EasternAirline jets and propeller planes. Although the program wasintroduced only four months ago, there have already beenapproximately 4,000 cards issued to members and carry combinedbalances of $11 million. The cards are being issued, administered,and marketed by Eastern Financial. The credit union has set a goalof 8,000 accounts by year-end.
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A recent executive order encouraging changes to the Consumer Financial Protection Bureau's Ability-To-Repay and Qualified Mortgage rules are adding to a packed agenda at a time when the agency has lost a third of its staff.
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The Salt Lake City-based regional bank plans to grow its multifamily lending business by acquiring the agency lending business of a commercial real estate investment group. If the deal is approved, Zions would join a short list of banks that can underwrite and close multifamily loans on behalf of Fannie Mae and Freddie Mac.
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