WASHINGTON - (02/23/06) The National CU Foundationannounced Wednesday it has awarded 18 grants worth a total of$910,000, to help support $3.5 million in credit union outreachprojects for underserved communities. The Foundation is channelingthe money from its Community Investment Fund to 11 credit unionsand seven credit union organizations, which will use the funding toleverage $2.6 million in matching funds from other donors. Thefunds will, among other things, help Financial Health CU, Lansing,Mich., create a financial education program for disabled youth;help Prospera CU, Appleton, Wis., develop a branch inside aGoodwill Industries outlet for low income employees and customers;help El Futuro FCU, Porterville, Calif., set up a financialliteracy and income tax assistance program for migrant workers inthe San Joaquin Valley; help the Filene Research Instituteintroduce new products to assist low income members at 125 creditunions; and help the Texas CU Foundation implement a state-mandatedfinancial literacy program for high students throughout thestate.
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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.
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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.
April 25 -
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.
April 25 -
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