ALEXANDRIA, Va. - (03/02/05) -- NCUA approved a proposal Tuesday fora federal credit union to offer its members an interest-only homeequity line of credit. In a new legal opinion letter, the federalregulator said it is permissible for an FCU to make a home equityline of credit with a 10-year draw period, and only requireinterest payments. At the end of the 10-year period, the line ofcredit will close and the member will be required to pay theoutstanding principal and interest over a five-year period. Theproduct will allow the member to pay down the principal on the lineof credit during the 10-year draw.
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At a time of mild or nonexistent loan growth, middle-market borrowers in the Lone Star State are providing a boost to Fifth Third Bancorp and Huntington Bancshares.
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New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
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The Alabama regional lender says it expects expenses to taper off this year and anticipates challenged loans will gradually rise to historically average levels.
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Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
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The Dallas-based regional bank tapped a client for its co-pilot capabilities, where employees can message a bot instead of a human to get tech assistance.
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