News

Underscoring a policy aimed at reaching out to small community banks and credit unions, the Federal Reserve Board and its district banks last week began completing a series of high-level CEO appointments to its new advisory panels.

The sign on some credit union doors this spring might be "Help Wanted: Highly Educated Chief Financial Officers, Well-Versed in the New Accounting Rules and Ready to Put in Long Hours on Mergers." And one other requirement: the employing credit union best prepare to spend big bucks for outside accounting...

WASHINGTON — Two credit union advocates told lawmakers today that the increased regulatory burden faced by the industry was hurting the ability of institutions to serve their members.

The U.S. Department of Justice has indicted nine people, six men and three women, for fraud, bribery and money laundering in connection with the collapse of the $239 million St. Paul Croatian Federal Credit Union.

WASHINGTON — The debit interchange rule and other new requirements on credit cards and mortgages will make it harder for credit unions to serve their members, according to Bill Cheney and John Buckley.

The outside legal counsel for the $35 million Apex Community FCU of Pottstown, Pa., is one relieved lawyer today, after a homeless man found and turned in his lost envelope containing $1,440 in cash.