News

The SEC said Goldman Sachs & Co. will pay a $550 million fine, the largest penalty ever paid by a Wall Street firm, to the agency, and reform its business practices to settle charges that it misled investors in a subprime mortgage product.

NAFCU President/CEO Fred Becker urged Treasury Secretary Timothy Geithner to allow the greatest amount of transition before he transfers responsibilities to the Consumer Financial Protection Bureau.

The $625 million Clearview Federal Credit Union said today it will officially dismiss its trademark infringement suit next week against a Florida debt settlement firm after the company agreed to change its name.

Because of the risks to safety and soundness caused by some energy efficiency loans, credit unions should make "appropriate adjustments, to their underwriting criteria and collateral monitoring practices."

Patelco Credit Union has integrated person-to-person (P2P) payments into its mobile banking offering.

The regulatory overhaul bill came a step closer to final passage today when the Senate voted 60-38 to end a Republican-led filibuster.