bank failures

• FDIC Garage Sale Offers Bargains to CUs

  By Jim Rubenstein  |  May 14, 2012

  The spate of Southeast bank failures is providing some extra bargains for credit unions that are able to acquire abandoned bank branches and other property.

• MidSouth Buys Ex-Bank Branch From FDIC

  By Jim Rubenstein  |  May 3, 2012

  MidSouth Community FCU monitors the FDIC’s list of foreclosed properties closely.

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  Open Solutions Does Not Share S&P’s Negative Outlook

  By Marc Rapport  |  January 31, 2012

  Open Solutions Inc.’s outlook on its immediate future differs than that of one of the leading raters of debt. While continuing its “B” corporate credit rating on the privately held core processing company, Standard & Poor’s said it has downgraded its outlook “to negative from stable, reflecting uncertainty as to the...

• Randolph-Brooks FCU’s Sekula Testifying on Business Lending

  By Claude R. Marx  |  June 14, 2011

  Thursday morning House hearing focusing on financial reform's impact on business lending; set for same time as Senate MBL hearing.

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  Credit Union Industry Reacts to Failure of Big Texas CU

  By Michelle A. Samaad  |  April 27, 2011

  Crippled by mounting commercial loan losses, the $1.6 billion Texans Credit Union was placed in conservatorship on April 15 by the NCUA.

• Banker Blasts CUs

  By Jim Rubenstein  |  November 3, 2010

  In its latest assault on credit unions' the tax exemption, the banking lobby has seized on a suit filed by the NCUA to recover losses in a 2009 Nevada credit union failure as evidence CUs are handing out loans to nonmembers on a broad scale.

• Reported Non-Member Loans Figure in Banker Attack

  By Jim Rubenstein  |  October 26, 2010

  A defaulted $1.5 million loan apparently made to non-members is firing up bankers' tax exemption talk.

• Fox Airs Corporate Segment Featuring Cheney

  By Jim Rubenstein  |  September 28, 2010

  The industry's latest corporate crisis wound up again getting national attention Monday night in a segment on Fox Business Network featuring interviews with CUNA President/CEO Bill Cheney and one of the Wall Street Journal writers of "bailout" fame.

• MaPS CU Brings Members Into CUSO Model That Frees Up Needed Equity

  By Michelle A. Samaad  |  May 19, 2010

  Rapid asset growth had proved to be a problem for MaPS Credit Union.

• Washington Governor Signs New Public Funds Bill Into Law

  By Jim Rubenstein  |  March 24, 2010

  Washington State credit unions have scored a legislative victory in 2010 by winning the right to accept public funds starting in July of next year.