News

Former CU National Mortgage President Michael McGrath revealed a complex scheme in court yesterday that allowed him to fraudulently sell unauthorized credit union mortgages to Fannie Mae to cover his investment losses.

The TransUnion credit bureau has found that card delinquency across all card issuers is creeping higher.

A letter from NAFCU to the chairman and ranking member of the Senate Judiciary Committee has argued that credit unions would be particularly hurt by a proposed cap on card interchange.

Michael J. McGrath, Jr., former president of U.S. Mortgage and CU National Mortgage, pleaded guilty yesterday to mail and wire fraud and money laundering charges in connection with a $139 million mortgage fraud scheme.

First Tech CU may have gone nuts with its squirrely new marketing campaign.

With more scrutiny on how much executives are paid, the SEC is considering several proposals on compensation and whether conflicts of interest exist between a company's managers and board members.