Ireland’s credit unions are in such dire straits that $1.3 billion in unused bank funds was recently approved to aid some of the country’s struggling cooperatives.
Available money intended for banks now headed to credit unions.
CMG Mortgage Insurance Co. said that a recent action by Arizona’s Department of Insurance placing PMI Mortgage Insurance Co. under supervision will not impact the firm’s new business originations or servicing of existing policies.
Search giant Google announced that it would debut a credit card, but one which comes with a significantly narrow focus.
The $3.1 billion Space Coast Credit Union has filed a suit against two investment firms over the alleged misrepresentation of a collateralized debt obligation that the cooperative said led to financial losses.
Space Coast CU is suing Barclays and State Street Securities over investment losses that led to its takeover of Eastern Financial CU.
When Congress returns, credit unions can expect fewer consumer bills, tweaking the financial overhaul bill and new leaders of House and Senate committees that oversee credit unions.
Pulling out all the stops, the credit union trades were in damage control mode all last week to tamp down public worries about credit union safety and soundness and a "credit union bailout,"
The media blitz by both CUNA and NAFCU to counter the negative "credit union bailout" message went into high gear today with new videos and top brass keeping in contact with TV producers and financial reporters on the corporate crisis.
As Congress contemplates whether to pass a law regulating debit card interchange, a majority of economists and government officials attending a meeting on the subject agreed that there is no economic basis for the proposed regulatory change.