The $9 billion Southwest Corporate Federal Credit Union announced big July month-end losses, recording impairments on both U.S. Central and its own securities investments, to the tune of $178 million.
CUNA and NAFCU both praised a proposed NCUA rule allowing more flexibility to FCUs that participate in the Obama administration's program for rewriting and refinancing certain mortgages.
Pennsylvania's auditor general, Jack Wagner, is doing a rethink or a "clarification" on his proposal last month to look at taxing credit unions as a way of helping solve the state's budget impasse.
