LOS ANGELES – Former officers and directors of WesCorp FCU told a federal court yesterday that NCUA’s growing legal battle with Wall Street banks over securities they sold to the failed corporate illustrates they could not have known the securities were faulty when they made the decision to buy them, thereby nullifying NCUA’s multi-billion dollar negligence suit against them.

ALEXANDRIA, Va. — The NCUA Board last Thursday proposed requiring that all CU Service Organizations, the credit union subsidiaries that provide everything from card processing to real estate brokerage services, file annual financial reports giving the federal regulator greater monitoring power over some 650 CUSOs.

JACKSONVILLE, Fla. – Fidelity National Information Services said last year’s deal for Capco Group helped push second quarter earnings up 37% to $123.5 million.

NEWARK, Del. – Student loan giant Sallie Mae reported a second quarter loss of $6 million yesterday, compared to a $338 million net for the same period last year, due to mark-to-market losses on its derivatives portfolio.

STATESBORO, Ga. – The getaway car driver in last September’s armed robbery of $27,000 from Geo Vista FCU last week was sentenced to nine-and-a-half years in prison.

ROCHESTER, N.Y. – Jim Molloy, longtime chairman at Congressional FCU who as Doorkeeper of the U.S. House of Representatives gave the annual invocation at CUNA’s Government Affairs Conference, died here Tuesday at 75 from complications of diabetes.

PHOENIX – Banner FCU signed with TRC Interactive to provide it with First Line of Defense ~ Fraud Detection and Loss Prevention Challenge.

FARMINGVILLE, N.Y. – Teachers FCU has chosen CUBUS Solutions’ CUStatements to add to its delivery of next-generation online banking services to members.

ALBUQUERQUE, N.M. – U.S. New Mexico FCU has contracted with INX Inc. to provide it with data center virtualization services.

RADCLIFF, Ky. – Fort Knox FCU yesterday said it signed with BlueYield to join the company’s consumer auto finance exchange.

NASHUA, N.H. – Hundreds of motorists lined up outside the Briad St. Gulf Station Wednesday morning to take advantage of $1.99 a gallon gas, courtesy of Digital FCU.

SEATTLE – Members of Watermark CU on Wednesday approved a merger with Sound CU in Tacoma, which will form the fifth-largest credit union in Washington state with almost $1.2 billion in assets.

WASHINGTON – The White House on Wednesday said President Obama will veto any bill passed by Congress to limit the powers of the Consumer Financial Protection Bureau, which officially opens for business today.

NEW YORK – A federal judge this afternoon approved a settlement between the Justice Department and Visa and MasterCard that bars the two networks from enforcing anti-steering bylaws against merchants steering business to cheaper forms of payment.

ALEXANDRIA, Va. – NCUA is telling hundreds of credit unions the re-chartering of WesCorp FCU and U.S. Central FCU will trigger termination of billions of dollars of their CDs with the two bridge corporates, a year before NCUA’s temporary share guarantee is set to expire.

LAS VEGAS – SONEPCO FCU, an ailing $60 million credit union here, has agreed to be acquired by California’s SCE FCU, the latest troubled Nevada credit union to be eliminated.

ALEXANDRIA, Va. – NCUA yesterday banned Amy Shufelt-Cure, the former president of tiny Columbia-Greene FCU, for embezzling $29,000 from the Hudson, N.Y., credit union.

CEDAR PARK, Texas – IBT, a provider of real-time channel integration software applications, is joining with ShareTec to offer an integrated solution for teller capture, branch capture and share draft processing.

SANTA ROSA, Calif. – Redwood CU has signed on as the sponsor of Sonoma’s City Party, which features live entertainment and will be held in front of City Hall July 26.

AUSTIN, Texas – A+ FCU said its A+ Education Foundation awarded 82 teacher grants totaling $76,000 as part of its annual Educator Grant Program.