FedComp, Inc. and CUNA Mutual Group's Financial Management Services (FMS) Department have created an alliance to market CUPRO Asset/Liability Management (ALM). At no additional charge FedComp said it will provide its clients an interface with an automated general ledger download to CUPRO, saving staff time and increasing data accuracy. Currently FMS supports more than 850 credit unions using the CUPRO software. For info: 800-733-3266.
The Federal Reserve will continue its ban on share repurchases for banks with more than $100 billion of assets into the fourth quarter and will cap dividend payments using a formula based on recent income.