News

NEW YORK - Ratings agency Standard & Poor's took several ratings actions against corporates late last week, downgrading seven of the 10 corporates it rates.

RYE, N.Y. -- John P. Walsh, the former chief operating officer of Affina Brokerage Services LLC, a subsidiary of USAlliance Federal Credit Union, has been charged with theft for allegedly stealing $2.5 million from the CUSO.

WASHINGTON -- Nearly a month after Bernard L. Madoff's $50 billion Ponzi scheme was exposed, the Securities and Exchange Commission has discovered two more that allegedly bilked investors out of nearly $75 million.

COVENTRY, R.I. -- Adam Quinlan, the newly-hired vice president of Coventry Credit Union's new commercial services division, brings several different perspectives to the job.

WASHINGTON - Seeking to provide additional oversight of troubled credit unions during the recession, the NCUA has established a team of examiners that the agency hopes will "enhance the supervisory process."

WASHINGTON - Unemployment rose to a 16-year high of 7.2% in December, as businesses cut 524,000 non-farm jobs, the Department of Labor reported today.