GOP Opposes Financial Reform
WASHINGTON-The proposed financial reform bill backed by Democrats ran into a significant roadblock when all 41 Republican senators signing a letter to Senate Majority Leader Harry Reid in opposition to the measure.
Eight More Banks Shuttered
WASHINGTON-Regulators seized another eight banks, making a total of 51 bank failures in 2010. TD Bank, a unit of the Canadian banking giant Toronto Dominion Bank, acquired three of the failures, all in Florida: $3.4-billion AmericanFirst Bank in Clermont; $90-million Riverside National Bank in Fort Pierce; and, $393-million First Federal Bank of North Florida in Palatka.
Corp One offers reassurance
COLUMBUS, Ohio-Corporate One Federal Credit Union issued a statement reassuring members on its large position in asset-backed securities supported by student loans, saying that even with almost $100 million in unrealized losses on its $740.1 million portfolio of student loan-backed bonds, the loans are of high quality and it does not expect to realize any credit losses on the securities.
Parolee Sought In Philly CU Heist
PHILADELPHIA-A man paroled from prison back in February after serving a six-year sentence for bank robbery was identified on video cameras as the individual who held up a TruMark Financial Credit Union branch.
Louisiana CUs Form MBL CUSO
SHREVEPORT, La.-Seven credit unions have teamed up to create their own CUSO to facilitate commercial/business lending in Louisiana called Business Alliance Financial Services, LLC.
Maine CUs Get $16K Grant
AUGUSTA, Maine-The National Credit Union Foundation has awarded the Maine Credit Union League a $16,000 grant, which will fund a 12-month collaborative project aimed at bringing and offering REAL Solutions to Maine consumers between the ages of 18 and 28 years old. REAL Solutions is the signature program of the foundation.
CEOs' Confidence Still Way Down
DALLAS-Broad-based economic indicators may be trending upwards but you'd never know it by asking your average CU CEO-Southwest Corporate FCU's first quarter Credit Union CEO Confidence Index sank to the lowest point in the seven-year history of the index.
Pentagon Offers 'Amazing Escapes'
ALEXANDRIA, Va.-Pentagon Federal Credit Union is promoting its PenFed Premium Travel Rewards American Express Card with an "Amazing Escapes" contest that will provide winners with travel packages worth more than $12,000 for purchases of $500.
