Texas Regulator Bid To Cap Payday Loan Fees Comes At Bad Time
AUSTIN, Texas-Credit unions in Texas are opposing a proposal by the state CU Department to set new limits on fees for payday loans-just as credit unions across the state are rolling out their own payday loan product.
Prospera CU Shuts Down Goodwill Branches In Restructuring
APPLETON, Wis.-Prospera CU, a pioneer in credit union payday loans, said it is closing one full-service branch and two of its GoodMoney payday loan sites inside Goodwill stores as part of a restructuring. A total of six positions will be eliminated as a result of the closures.
FHLB Awards CUs $1.2 Million In Affordable Housing Funding
SAN FRANCISCO-Three credit unions-Travis CU, Meriwest CU and Yolo FCU-were awarded a total of $1.2 million of affordable housing grants by the Federal Home Loan Bank of San Francisco.
Troubled Bank Branch Provides Opportunity For Wisconsin CU
MADISON, Wis.-University of Wisconsin CU opened its third branch in the Milwaukee area in Wauwatosa, in an almost-new building it bought from ailing Amcore Bank.
Wouth End Mutual Benefit Assn. Is year's Fifth credit union Failure
HARTFORD, Conn.-State regulators took over South End Mutual Benefit Association, a one-time $4 million CU after it conceded it no longer could meet regulatory requirements to stay open.
Branch Manager Charged With $56K Embezzlement By Inflating Pay
EPHRATA, Wash.-A former branch manager at Granco FCU was charged with stealing $56,212 from the credit union by adding money to his paycheck and inflating his vacation time.
Greylock FCU Employees Donate $106,000 To United Way Charities
PITTSFIELD, Mass.-Employees of Greylock FCU set a new high for United Way fundraising, combining with corporate support to raise more than $106,000 for the organization.
Pace Of Bank Failures Slows After previously Busy Two-Week Period
WASHINGTON-Regulators shuttered one bank and none the week before, after seizing 12 institutions the prior two weeks. The most recent failure-Beach First National Bank, Myrtle Beach, S.C.-marked the 42nd bank failure in 2010.
Texas League Moves To Shrink Size of Board, Create Savings
GRAPEVINE, Texas-Credit unions in Texas have approved a plan to shrink the league board to 12 members from 15, a move it projects will save at least $50,000 annually.
Banks Sue FDIC To Block The Sale Of Loan Participations
ATLANTA-Six Georgia banks filed suit against the FDIC to prevent the regulator from selling a loan seized from failed Silverton Bank in which they own participation interests, for development of a W Hotel in downtown Atlanta.
