LONG BEACH, Calif. – LBS Financial CU is combining its Signature and PIN debit processing through CO-OP Financial Services.

LOS ANGELES – Standard & Poor's on Tuesday urged a federal court here to dismiss a suit brought by the Justice Department over investments it rated for WesCorp FCU, Eastern Financial Florida CU and other investors, saying the $5-billion suit is “retaliation” for its 2011 decision to strip the country of its AAA credit rating.

UKIAH, Calif. – Mendo Lake CU received $92,000 in AHEAD economic development grants from the Federal Home Loan Bank of San Francisco to help build three local projects for the underserved, including a mobile migrant housing pilot.

DOTHAN, Ala.—Five Star CU here has signed an agreement to buy Flint River National Bank. The $260-million Five Star has offices in Alabama and Georgia.

CINCINNATI – The woman who created a credit counseling program at CinFed FCU was sentenced today to a year in prison for stealing as much as $400,000 from financially ailing credit union members she was supposed to be helping to trim their debts.

WICHITA, Kan. – The FDIC asked a federal appeals court here Friday to overturn a lower court ruling dismissing $550 million of securities claims by NCUA against Barclays Capital, as the ruling could jeopardize billions of dollars in claims the banking regulator itself has against numerous Wall Street banks.

MADISON, Wis. – The Filene Research Institute announced a $700,000 grant from the Ford Foundation this morning that will fund its financial services incubator that will test, package, and scale innovative, viable financial products that aid low-and-moderate-income consumers.

LUBBOCK, Texas – A former assistant accountant at a WesTex FCU branch was sentenced Friday to 37 months in prison and ordered to pay $690,000 restitution for a three-year embezzlement scheme.

ALEXANDRIA, Va. – Pentagon FCU announced this morning it has signed a deal to link to 167 ATMs located in Rite Aid stores in Maryland, Virginia and greater Washington D.C., part of a broader ATM co-branding strategy.

ALEXANDRIA, Va. – NCUA filed suit in Federal District Court in Kansas against Morgan Stanley & Co., Inc. and other firms, alleging violations of federal and state securities laws in the sale of more than $566 million in mortgage-backed securities to U.S. Central and WesCorp.

MINNEAPOLIS, Minn. – National retailer Target is fabled for its sophisticated use of customer spending data and has emerged as a leader in store-branded debit cards.

WASHINGTON – The members of the Mortgage Insurance Cos. of America did nearly $8 billion in Home Affordable Refinance Program workouts in 2Q13, up from $7.8 billion in 1Q13.

CHARLOTTE, N.C. – Bank of America has become the latest bank to announce major mortgage layoffs.

ARLINGTON, Va. – David Frankil, president of NAFCU Services Corp., is leaving the position effective Sept. 13 to join Burns-Fazzi, Brock and Associates as president.

YUBA CITY, Calif. – Ron Sweeney has been named president at Sierra Central Credit Union, while John Cassidy retains the CEO title.

ALEXANDRIA, Va. – NCUA has issued prohibition orders against six people:

MINNEAPOLIS, Minn. – Kyle Markland, the well-known and well-regarded CEO of the $1.6-billion Affinity Plus Credit Union here, has resigned.

NAPERVILLE, Ill. – Illinois Gov. Pat Quinn has signed into law legislation that establishes a basic set of disclosures that must be furnished on general use reloadable prepaid products.

PLANO, Texas – Credit union CEOs are entering September with heightened expectations for the lending performance of their credit union.

COSTA MESA, Calif. – Leasing has been picking up over the last year, and the momentum only will accelerate as loan rates rise, analysts agree.