News

LAS VEGAS -- Credit unions clinging to the traditional methods of doing businesses may get left behind as industries evolve in the social medial and international realm Pepperdine University Professor Gary Mangiofico said.

Following a quarter in which St. Paul Croatian FCU reported a substantial decline in the value of its real estate and secured loans, the NCUA on Friday placed it into conservatorship.

The Senate late this afternoon is scheduled to hold a procedural vote on whether to begin consideration of a regulatory restructuring bill, though there hasn't been an agreement on what the measure will look like.

Moneytree Inc., a Seattle payday lender, was hit late last week with a cease and desist order by Washington state regulators alleging the firm allowed borrowers to take out an excessive number of loans violating rescinding rules.

LAS VEGAS -- Robert Redford's character deciding to fight off a band of unknowns rather than jump off a mountain cliff into a stream may provide credit unions with an example of how embracing the unknown can be a good thing.

About half of the consumers interviewed in a recent national study said they would be interested in using electronic person-to-person payments, its sponsors said.