Location Root Tag

WASHINGTON — The Consumer Financial Protection Bureau has chosen a dozen firms involved in the mortgage industry — including two credit unions — for a pilot program looking at whether electronic fillings can improve the mortgage closing process.

WILKES-BARRE, Pa. — Five members of Wilkes-Barre City Employees FCU, including one employee, were charged Thursday with conspiracy and bank fraud related to an elaborate scheme to obtain loans with false collateral and stolen identities.

Blue Harbour Group, an activist investor fund, has amassed a 5.7% stake in Investors Bancorp in New Jersey.

Chemical Financial in Midland, Mich., and First National Bank of Omaha in Nebraska have partnered to market and issue a new rewards-based MasterCard.

Bryn Mawr Bank in Pennsylvania has agreed to buy Powers Craft Parker & Beard, an insurance broker and risk management consulting firm.

EAST HANOVER, N.J. — Symbionce Financial Solutions LLC, a credit union service organization that offers mortgage services to CUs, on Thursday was ranked number 945 on Inc.magazine's eighth annual Inc. 500|5000.

LAWRENCEVILLE, Ga. — Twitter Inc. has dialed back a rule implemented late last year that restricted how financial institutions could promote themselves on the site, but some credit unions are still unsure as to what those changes mean in terms of how effective the social-networking site can ultimately be for CUs.

LAGUNA HILLS, Calif. — As if credit union mortgage lenders did not have enough to contend with already, the Consumer Financial Protection Bureau has proposed numerous changes to the way home loan data will be collected — and possibly reported publicly.

ARLINGTON, Va. — NCUA has been stressing to credit unions for well over a year that they must pay attention to interest rate risk with rising rates on the horizon.

In the push for more noninterest income, regional banks have expanded their investment banking divisions, including capital markets and M&A advisory. Regions Financial has the most challenging task, as it rebuilds after divesting Morgan Keegan.

From mergers and retirements to special programs being offered, CU Journal offers a quick look at the latest news from credit unions across the country.

Polonia Bancorp in Huntingdon Valley, Pa., has begun looking for a new president and chief executive to replace its retiring CEO Anthony Szuszczewicz.

City National in Los Angeles has formed an Asian subsidiary to provide research for its emerging markets fund.

CHICAGO — Mortgage delinquency rates declined by nearly 20% to a national rate of 3.46% in the second quarter from a year earlier, according to a report from TransUnion LLC.

Banc of California in Irvine is working to address material weaknesses in its internal controls.

FERGUSON, Mo. — Staff from Alliance Credit Union are out Wednesday in this troubled city, walking through debris left behind by Tuesday night's chaos, asking business owners if they need a 0% loan.

HomeTrust Bank faced a legal challenge from HomeTown Bank after it entered southwestern Virginia. The now-resolved dispute serves as a reminder that banks must be aware of branding challenges when they enter new markets.

LAKE BLUFF, Ill. — Credit unions continue to inch closer to what banks are charging for overdrafts.

Southern Bancorp in Arkadelphia, Ark., has agreed to buy the Bank of Bolivar County in Shelby, Miss.

DENVER — NCUA on Tuesday received good news from the U.S. Court of Appeals for the Tenth Circuit, which upheld its original opinion that the regulator's suit against several banks regarding mortgage-backed securities can proceed.