SAN ANTONIO - (11/07/05) -- Tow of the area's largest creditunions, San Antonio FCU and Randolph-Brooks FCU, have joinedtogether to form a new realty CUSO to help members sell theirhomes. Plans call for the new company, CU Realty Trust of TexasLLC, to offer rebates of up to 20% on a typical realtor'scommission to both members and non-members of the two credit unionswho sell their homes through the CUSO. The company is offering realestate services to clients through an established network ofpre-approved realtors. Buyers and sellers will also be able to postand search for homes on the Multiple Listing Service in SanAntonio, Houston, Austin and several other Texas cities.
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After passing the Federal Reserve's stress tests with high marks, large banks announced dividend increases. In some cases, they also said the Fed had conceded that certain prior calculations needed to be revised.
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The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.
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Dime Community Bancshares, which has added dozens of bankers over the past two years, is now ready to consider expanding its geography.
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The conviction of a fraud ring mastermind highlights growing risks in home equity lines of credit as equity-rich borrowers become prime targets.
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