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The number of mortgage originations dropped 31% to 6 million in 2014 due largely to a decline in refinancing as interest rates increased, according to a report issued Tuesday by the Federal Financial Institutions Examination Council.

United FCU names associate board members, Western CUNA Management School appoints trustees and other CU people in the news.

Bank of America shareholders voted Tuesday to allow Brian Moynihan to keep his dual titles of chairman and chief executive, with 63% of votes cast in favor of Moynihan.

In the latest example of consolidation among corporate credit unions, the boards of directors for both Mid-Atlantic Corporate Federal Credit Union, Middletown, Pa., and First Carolina Corporate Credit Union, Greensboro, N.C., said they have agreed in principle to combine their organizations in a “merger of equals” that would continue the trend of corporate consolidation.

Despite pledges last year to move "aggressively" to implement new credit scoring models at the government-sponsored enterprises, the Federal Housing Finance Agency's effort appears to have stalled.

America’s Credit Union Museum announced it has surpassed $2 million in pledges as it continues to reach its $3.3 million capital campaign target.

Contrary to the CFPB’s paternalistic claims, most payday loan borrowers are aware that it may take them more than two weeks to repay the credit they take out.

The U.S. restaurant industry is still challenged to fit EMV-chip card payments into an ordering and payment structure built around cash and magstripe cards. The vendor MyCheck sees this uncertainty as an opportunity to win restaurants over to its mobile payment system.

B of A Chairman-CEO Controversy Dates to Lewis; 'BitLicense' Granted

First Midwest Bancorp in Itasca, Ill., has agreed to buy Peoples' Bank of Arlington Heights in Illinois.