News

In another sign that the economy isn't out of the woods yet, housing starts fell 1% last month, to a seasonally adjusted annual rate of 581,000 in July, the Commerce Department reported today.

Mid-Atlantic Corporate Federal Credit Union announced yesterday's passing of John H. Bixler, Jr., the original president/CEO.

CUNA President/CEO Dan Mica today asked NCUA Chairman Michael E. Fryzel to ask his examiners to take no enforcement actions against credit unions trying to comply with the 21-day notice rule for open-end credit accounts.

Alabama credit unions Tuesday were already seeing a flow of new deposit and loan business as they capitalize on last Friday's collapse of the $25 billion Colonial Bank of Montgomery, the biggest failure in a year.

To help move the flow of business loan participations, Michigan Business Connection LC and CenCorp Business Solutions LLC have formed an alliance to make it happen.

Small business lender CIT Group Inc. said today it has bought back $1 billion in debt from bondholders in another effort to avoid filing for bankruptcy protection.