PETERBOROUGH, N.H. — Seven more credit unions sold their card portfolios during the third quarter, bringing to 17 the number of CU portfolio sales through the first three quarters.

LONDON — Security analysts are reporting hackers have discovered a way to compromise "out-of-band" authentication, considered to be one of the strongest formats for online security.

WASHINGTON — FDIC Chairman Sheila Bair last week added her endorsement to a proposal that would require secured creditors to help pay for the costs of bank failures that are deemed large enough to threaten the larger financial system.

WASHINGTON — Rep. Louise Slaughter, chairman of the House Rules Committee, said last week she will introduce legislation that will cap credit card interest rates at 16%.

WASHINGTON — The Obama administration is indicating dissatisfaction with efforts to date to modify mortgages across the country, and now plans to step up the pressure on lenders to do more. A $75-billion, taxpayer-financed effort called "Making Home Affordable" and approved earlier by Congress has not delivered the kinds of results the administration had envisioned, and many of the loans being modified through the federal program remain in a trial stage and have yet to be made permanent.

SAN DIMAS, Calif. — A group of seven large California credit unions have filed suit in state court against the former management and directors of WesCorp FCU over the failure of the one-time $32 billion corporate credit union.

TALLAHASSEE, Fla. — Credit Union 24 has launched a Spanish-language website. The site follows other printed materials the ATM and POS network had already made available in Spanish.

CHANDLER, Ariz. — First Credit Union here has launched a "$50 Million Loan-A-Thon," aimed at raising awareness it is making loans at a time when many lenders have decreased dollars being made available.

WASHINGTON — The trend toward reverse mortgages has, well, reversed.

HUNT VALLEY, Md. — The $71-million Atlantic Financial FCU is reporting a sharp increase in web traffic particularly among younger members, as the result of a two-month "Treasure Hunt" promotion.

NEW YORK — The new CARD Act aimed at cracking down on many pricing practices on credit cards, could indirectly benefit many issuers when the economy recovers, according to several analysts.

WASHINGTON — The Federal Reserve yesterday released a forecast for economic growth that shows only a very slight improvement in optimism over what's ahead. Moreover, the Fed is projecting that unemployment will remain above 9% through at least 2010.

SANTA ANA, Calif. — Recent good news that the national inventory of housing is down while home purchases are up have given hope that the U.S. residential real estate market is getting back on its feet. But a new report suggests another wave of foreclosures is likely on its way.

WASHINGTON — The nation's banking industry turned a $2.8-billion profit during the third quarter, due in large part to higher net interest income and growth in institutions' securities portfolios, according to figures released by the FDIC.

WASHINGTON — For the first time in almost two decades, the FDIC is posting red numbers. The FDIC reported that as of Sept. 30 it was running a negative balance of $8.2-billion, the result of the 124 bank failures so far in 2009.

SAN DIMAS, Calif. — A group of seven large California credit unions plan to file suit this afternoon in state court against the former management and directors of WesCorp FCU over the failure of the one-time $32 billion corporate credit union.

WARRENVILLE, Ill. — Members United Corporate FCU here plans to deplete a little more than half of its remaining member capital shares after positing a $149.6 million loss in October.

WASHINGTON — Home sales increased for the second month in a row during October, climbing to the highest level in 2.5 years, driven in large part by first-time buyers seeking to take advantage of an expiring tax credit.

NEW BRUNSWICK, N.J. — A "whistle-blower" lawsuit has been filed here that seeks to halt merger merger discussions between a credit union that serves Rutgers students and alumni and another that serves university employees.

WASHINGTON — The National Federation of Community Development Credit Unions is pressing its case for regulatory relief and enhanced access to capital.