ATLANTIC CITY, N.J. — There are a lot of things recently retired CEO of Texas Dow Employees Credit Union Ed Speed does not like. Collaboration, social media and e-commerce are just for starters. But he didn’t keep his credit union from getting involved in those things.
Huntington, JPMorgan Chase closed accounts at up to 30 West Virginia, Ohio credit unions, their corporates say.
ATLANTIC CITY, N.J. – There are a lot of things Ed Speed does not like: collaboration, social media and e-commerce for starters.
Navy Federal, SECU, BECU, Golden 1 and America First on list.
The NCUA reported April 2 that it scored a $165 million win against Wall Street, reaching a settlement with Bank of America over residential mortgage-backed securities losses at failed corporate credit unions. Bank of America did not admit fault as part of the settlement, the NCUA said in a release.
Some dustups have taken place or are in the works that are affecting credit unions. It’s enough to clog your pores, so I’m going to just clean that up a little bit with an apricot scrub. (I’ll apply a light cleanser to that mixed metaphor while I’m at it.)
Depending on who you talk to, the credit union business lending landscape could easily be a mix of record loan growth peppered with a drop in delinquent debt to an environment that is thriving better than what bank competitors are experiencing.
Checks to range from $300 to $125,000 as result of enforcement actions against 13 servicers, including the nation's largest banks.
Corporate collapse settlement totals now top $335 million, agency says. Lawyers to get $84 million. Corporate rescue assessment to be determined.
In an “amicable” decision made between Patelco President/CEO Ken Burns and the $3.9 billion credit union’s board, Burns will resign effective sometime this summer.