Ohio Governor Ted Strickland has named a former banker to be that state's next CU regulator.
The accounting firm that reviewed the financials and performed audits of the defunct New London Security Federal Credit Union's records has denied claims that it failed to detect fraudulent activity, an allegation made by NCUA in a March 19 complaint.
The $1.3 billion Greylock Federal Credit Union, headquartered in Pittsfield, Mass., is focused on damage control and recovery in the wake of a series of revelations and resignations from some of its leaders.
In response to an NCUA complaint, the auditors for New London Security Federal Credit Union have denied claims of professional malpractice for the cooperative that was liquidated in 2008.
The currently $1.3 billion Greylock Federal Credit Union grew from being a $760 million credit union under the guidance of its former CEO, Angelo Stracuzzi, who resigned on June 11.
Georgia may be the nation's ground zero for having the highest number of bank failures-32-but state-chartered credit unions seem to be weathering the storm in good shape.
A private equity firm, the Blackstone Group, has launched talks to possibly take over FIS, the card processor for the majority of the nation's card issuing credit unions.
The $3 billion Desert Schools Federal Credit Union has offered $10,000 for tips leading to the arrest of a robber who entered the credit union on crutches and wrapped in bandages.
The new regulator of consumer financial products would be housed in the Federal Reserve and would have the ability to write rules, but most of enforcement would be done by the safety and soundness regulator.
Rep. Brad Ellsworth (D-Ind.) who has enjoyed strong support from credit unions during his two terms in the House of Representatives, is going to announce his candidacy for U.S. Senate, according to several media reports.