News

To date, $1.2 billion has been collected for victims of the $50 billion Bernard Madoff investment scam, including a $235 million settlement from one of the firms that did business with him.

The recession-battered banking industry during the first three months of 2009 as FDIC-insured institutions reported a $7.6 billion net income, compared with $19.3 billion during the first quarter of 2008, the agency reported.

The $1.6 billion Space Coast Credit Union has launched a program to allow members to donate 50% of the points they earn on specially marked credit and debit cards to go to support research against breast cancer.

The two dozen credit unions that use the Credit Union On-Line Inc. service bureau are now also users of upgraded Internet and mobile banking and accounting solutions, the company said.

A federal court has approved the distribution of $843 million to more than 257,000 harmed investors stemming from an American International Group SEC accounting fraud enforcement action.

Texas will keep its independent credit union regulator.