INDIANAPOLIS - (03/15/05) -- Irwin Financial Corp. said Monday ithas agreed to sell its private label credit union mortgagebusiness, as well as its branches in Arizona, California, Colorado,Hawaii and Washington to American Home Mortgage Corp. The creditunion business markets mortgage loans through salespeople locatedonsite at about 50 credit unions. As part of the deal, AmericanHome will extend employment to Irwin Mortgage employees at theacquired locations. Terms of the deal were not disclosed.Mellville, N.Y.-based American Home Mortgage is a unit of AmericanHome Investment Corp.
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Navy Federal Credit Union will not pay a $15 million fine or $80 million in restitution to servicemembers who were illegally charged surprise overdraft fees when their accounts had sufficient funds.
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After passing the Federal Reserve's stress tests with high marks, large banks announced dividend increases. In some cases, they also said the Fed had conceded that certain prior calculations needed to be revised.
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A team of ex-First Republic private bankers hopes to serve entrepreneurs who once worked with Silicon Valley Bank.
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The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.
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In a joint letter signed by over 50 bank trade groups, leaders in the banking industry urged regulators to revise bank regulatory thresholds upward to keep up with inflation.
July 1 - Yahoo Finance Feed
Dime Community Bancshares, which has added dozens of bankers over the past two years, is now ready to consider expanding its geography.
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