OAKLAND, Calif. - (03/09/05) -- NCUA said Tuesday and closed downand liquidated another community development credit union, KO-AMFCU, a $13 million credit union that served the Bay Area's Koreanpopulation. NCUA said it decided the close down the faith-basedcredit union after it determined the institution to be insolvent.KO-AM FCU reported that assets declined by 3% last year to $12.5million and net income was just $104,000. Net capital was 7.5%. Thefailure of the CDCU follows recent closures of other CDCUs: Nor-CarFCU, Oasis Community FCU and D. Edward Wells FCU.
-
The financial services company has found that engineers report higher satisfaction and save time when using a copilot to assist with coding.
12m ago -
The embedded banking services Amazon offers to third-party sellers come from the hidden hand of JPMorgan Chase's corporate payments arm, which markets its services to e-commerce platforms on a white-label basis.
1h ago -
The embattled Long Island bank unveiled a turnaround plan that involves selling noncore assets and diversifying its commercial loan book. But first, it will need to sort through credit-related challenges in its large commercial real estate portfolio.
May 1 -
During this week's Federal Open Market Committee meeting, officials voted to lower the cap on the amount of Treasury securities that can roll off the central bank's books each month from $60 billion to $25 billion.
May 1 -
House Republicans held a subcommittee hearing on reforming bank merger M&A, laying the groundwork to counter Biden administration efforts to make it more difficult for mergers to be approved.
May 1 -
Bolstered by healthy first-quarter global card-spending trends, Mastercard is focusing on opportunities outside the U.S., including a unique card-processing arrangement beginning this month in China.
May 1