Despite recommendations by CUNA and others that call for significant corporate consolidation, three executives of small corporates said they are not in merger discussions and are unlikely to merge.
Recently a friend of mine gave me a wonderful explanation of a financial intermediary.
The Wisconsin-based monoline insurer subsidiary of Ambac Financial Group has restructured its residential mortgage-backed securities guarantees into a separate,
Today's guest blogger, known as Will Magnus, posts on the need for greater transparency at corporate credit unions.
Ambac Assurance Corporation announced it restructured its residential mortgage backed securities guarantees into a separate "segregated account" after the Wisconsin Insurance Commissioner successfully petitioned to take control of the fund.
Corporate America Credit Union's case against U.S. Central Federal Credit Union's former directors and executives is going to court. U.S. District Court Judge Inge P. Johnson filed the order March 25, setting a Dec. 6 trial date in Birmingham, Ala.
An NCUA Feb. 25 online posting mistake revealed previously confidential negotiations between disposed U.S. Central FCU Executive Vice President David Dickens, U.S. Central and the regulator.
Corporate America Credit Union won round one late Thursday afternoon in its lawsuit against U.S. Central and its accounting firm RubinBrown. U.S. District Judge Inge Prytz Johnson denied RubinBrown's two motions to dismiss the case.
According to documents posted on the NCUA's Web site (www.ncua.gov), since removed, U.S. Central FCU withheld former executive Dave Dickens' severance during an investigation into whether his actions could have allowed him to be fired "with cause."
Almost 11 months after it was due, the NCUA has not given Congress its annual report for 2008, and several sources have said that the reason for the delay is a dispute with its auditing firm,