California credit union placed into conservatorship on Friday; questions remain whether overreach contributed.
Several of Telesis Community Credit Union member business loan categories have been in a free-fall since at least 2010.
The NCUA said Friday night it has assumed conservatorship of Telesis Community Credit Union in California and liquidated Saguache County Credit Union in Moffat, Colo.
San Francisco attorney Teveia Barnes has been appointed commissioner of the California Department of Financial Institutions, whose oversight includes credit unions.
The Occupy protest movement may be under pressure from police on its encampments, but a Occupy group in San Francisco insisted it is serious about starting its own credit union to serve the underbanked.
San Francisco organizer said he's heard from counterparts in New York, Rhode Island and Pennsylvania.
Occupy San Francisco said it filed pre-Thanksgiving paperwork with the state to charter a proposed People’s Reserve Credit Union.
CUSC said planned addition of the $60 million North Orange County CU would bring assets to $670 million after two others approved.
The $83 million Musicians’ Interguild Credit Union of Hollywood, Calif., has a beef over how examiners treat modifications on interest-only loans and its CEO/Treasurer Marc Jacoby is outspoken on the topic.
The board of directors of $1.5 billion Technology Credit Union has written the CU's 74,000 members that they may be better served by converting the credit union to a bank.