News

The NCUA said there has been no unusual activity in the area of account closures or withdrawals at Eastern Financial Florida Credit Union two weeks after the $1.6 billion financial institution was placed in conservatorship.

Marking what it called a record-breaking achievement, the $705 million Advantis Credit Union of Portland, Ore. racked up $20 million in deposits and brought in 800 new members during a two-day promotion.

The Central Liquidity Facility would continue to be able to borrow up to $41.5 billion from the Treasury Department under the Obama administration's budget request submitted to Congress last week.

Speaking several hours after the announcement of an unemployment rate of 8.7%, President Obama today announced a new program to make it easier for jobless to get training so they can qualify for better jobs.

The continuing problems of the economy in general and the housing market in particular have again taken their toll on Fannie Mae, which reported a $23.2 billion loss for the first quarter.

Unemployment rose to 8.9% in April-the highest level since September 1983-as businesses cut 539,000 non-farm jobs, the Department of Labor reported today.