News

Community banks could lose money and consumers could have to pay higher fees if the Federal Reserve implements its debit interchange proposed rule as is, FDIC Chairman Sheila Bair wrote Federal Reserve Chairman Ben Bernanke.

Saying it will be the “start of a robust discussion,’’ on the set up of the Bureau of Consumer Financial Protection, House Financial Institutions and Consumer Credit Subcommittee Chairman Shelley Moore Capito announced an oversight hearing next Wednesday.

The long-term financial troubles at Nevada’s largest credit union, the $718 million Silver State Schools,, have also been accompanied by recent changes of senior management.

The long-term financial troubles at Nevada’s largest credit union, the $718 million Silver State Schools,, have also been accompanied by recent changes of senior management.

The burden of trade association dues during a rough economy plus internal policy disputes apparently figure in two more disaffiliations disclosed this week.

The $11 million Brooklyn Cooperative FCU has received a $300,000 grant from the Center for Financial Services Innovation to help develop the financial institution interface for a social network savings program.