A dozen Pennsylvania credit unions have formed a consortium with the Pennsylvania Credit Union Association to create a real estate brokerage service. CU Realty provides a Web-based Multiple Listing Service (MLS) search tool. Members will receive a rebate for using a CU Realty Pennsylvania-certified Realtor, according to the PCUA. Participating CUs include American Heritage FCU, Philadelphia; Diamond Credit Union, Pottstown; Franklin Mint FCU, Broomall; Freedom Credit Union, Philadelphia; K of C FCU, Philadelphia; People First FCU, Allentown; Philadelphia FCU; Reliance FCU, King of Prussia; SB1 FCU, Philadelphia; SE Family FCU, Philadelphia; Service 1st FCU, Danville; and Sun East FCU, Aston. The CUSO will obtain brokerage licenses for Pennsylvania, New Jersey, and Delaware.
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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
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The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
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At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
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Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
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The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
April 24 -
Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
April 24