AUBURN, Mass. – Members of Central CU Fund, the tiny corporate credit union, with just $270 million in assets, voted overwhelmingly at Tuesday’s special meeting to merge the Centrail CU Fund, the nation’s first corporate, into Members United Corporate FCU. Members United is the nation’s second largest corporate, with $13.5 billion in assets and serving 2,100 credit unions nationwide. Central CU Fund served 210 credit unions in Massachusetts.
The federal banking agency has conditionally approved Mission Lane's request for a limited-purpose credit card bank charter.
The Federal Reserve and Federal Deposit Insurance Corp. said they have doubts about the feasibility of American Express' resolution plan, yet issued no formal deficiencies with theirs or any of the other 14 other large banks' resolution plans reviewed.
Home value fell in real terms, as inflation ran 1.5 percentage points above price growth, down slightly from 3.5% in June, according to the Case-Shiller index.
The Federal Reserve voted 6-1 to finalize its proposed stress test reforms, including seeking input on stress test scenarios and models annually and averaging results over two years.
After Congress passed a bill speeding up its demise, the penny will be more curiosity than currency.
The Federal Reserve's preferred measure of inflation came in lower for August than it had in earlier months, but a recent methodology change raises questions about the strength of the signal.
