Commentary

NEW YORK -- American Express has sought and received Federal approval to become a bank holding company and has reportedly sought $3.5 billion in bailout money from the Treasury, according to the company and press reports.

WASHINGTON - In a House hearing yesterday examining the role of the private sector in mortgage modification

WASHINGTON -- In response to the credit crunch, Small Business Administration Acting Administrator Sandy Baruah announced today several loan program changes to help the agency's lending partners increase access to capital for small businesses.

WASHINGTON -- There were 516,000 first-time filings for unemployment insurance last week, compared with the revised figure of 484,000 the week before, the Labor Department reported today. It's the highest number of new filings since Sept. 29, 2001.

WASHINGTON -- With the recent addition of Grow Financial Federal Credit Union and Arkansas Federal Credit Union to its partner roster, Credit Union Student Choice now has 22 private student lending alliances.

YORK, United Kingdom -- A survey conducted in the United Kingdom suggests that children using their parents' credit and debit card numbers without their permission are a significant part of the online card fraud problem.

PEORIA, Ill. -- Times are tough in many parts of the country, but credit union loan volume is soaring at the $3.6 billion Citizens Equity First FCU, the state's second largest, according to Charles Walker, chief financial officer.

WASHINGTON -- Saying that in light of the financial crisis he must be "proactive rather than reactive,'' NCUA Chairman Michael E. Fryzel