If the Basel Committee of Banking Supervision doesn't take financial cooperatives into consideration as it ponders stricter capital requirements, it won't be for a lack of trying.

The Los Angeles-based ByDesign Financial Solutions, which does business as Consumer Credit Counseling Services in several California markets, has announced its merger with the Richmond, Va.-based ClearPoint Counseling Solutions, effective May 1.

The NCUA expects so many corporate credit unions to record capital losses their March 31 financials and restated December 31, 2008 financials, its suspended safety and soundness regulations in anticipation.

Clayton Fixed Income Services is examining the books of seized corporates U.S. Central FCU and Western Corporate FCU, the NCUA said today in its weekly corporate credit union update.

Will the four holdout corporates sign the NCUA's revised Corporate Credit Union Share Guarantee Program by the May 15 deadline? At least one corporate will consider it.

Midwest Corporate Credit Union's Doug Wolf has been on the road this week, meeting with member credit unions and assisting them with corporate impairment accounting questions.

Lenders filed 135,431 mortgage default notices against California homeowners during the first quarter of 2009, real estate information service MDA DataQuick reported yesterday.

Stephen Bentley, president/CEO of the $18 million Upper Valley Credit Union, said he doesn't feel he has less representation among trade associations and elected officials because he runs a small shop.