KEARNY MESA, Calif. – North Island CU, the area’s biggest credit union, broke ground Friday on its new office building here, outside of the San Diego city limits. The six-story, 13,000 square-foot building will serve as the new headquarters for the $1.6 billion credit union. The building is being designed by San Diego-based H2A Architects and will include environmentally friendly construction by Swinerton Builders, also of San Diego. Occupancy is slated for late 2008. In preparation for the project, the credit union sold its current headquarters building in Chula Vista earlier this year for $27.4 million.
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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.
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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.
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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.
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After Congress passed a bill speeding up its demise, the penny will be more curiosity than currency.
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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.
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A federal indictment names Bank of America, M&T and seven other banks and credit unions, and quotes the texts that got deposits past their fraud controls.
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