NEW YORK - (12/01/04) -- From the funding of asset buildingprograms to financial literacy and a secondary market forlow-income mortgages, the Ford Foundation has become the creditunion movement's most generous outside source of funding. The50-year-old foundation, one of the largest in the world with anendowment topping $5 billion, will provide $2 million in creditunion-related grants this year, including $550,000 to help fund theNational Federation of CDCUs' mentoring program; $445,000 to fundthe Federation's asset building project; $400,000 to assist theNorth Carolina Minority Support Center for 12 CDCUs; $90,000 todevelop international remittance programs; $210,000 for a WoodstockInstitute study on CDCUs; and $150,000 for the New York CityFinancial Network Action Consortium of CDCUs. The Foundation hasbeen helping fund credit union projects for more than a decade andis one of the biggest donors to community development credit unionsthrough annual assistance to the Federation. A 1998 grant of $5million to assist Self Help CU create a secondary mortgage marketfor low-income borrowers still stands as the largest grant everawarded credit unions.
-
Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
7h ago -
The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
9h ago -
The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
11h ago -
Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
April 25 -
Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
April 25 -
The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
April 25