News

Corporate America Credit Union CEO Thomas Bonds said he met with a new vendor today to begin the process of converting his corporate's payment systems platform away from U.S. Central.

The League of Southeastern Credit Unions is off to a controversial start, after President/CEO Patrick LaPine fired off an Aug. 4 letter to his board members questioning the Alabama regulator's July 31 conservatorship of Mutual Savings Credit Union.

The SEC has filed a complaint against an unlicensed California savings and loan association that is also registered as a credit union in Sweden for the sale of $9 million in allegedly fake securities.

Auto loan servicer Peak5 Financial, formerly Flatiron Financial and Centrix Financial, shut down its business on July 10.

Glenn Latham, head of the Alabama Credit Union Administration, said he was among the first to learn the League of Southeastern Credit Union was questioning his regulatory action against Mutual Savings Credit Union.

Revenues from shared-branching arrangements are among the items subject to the unrelated business income tax, according to an IRS technical advice memorandum.