News

Saying that the increases in bank failures have caused a strain on the insurance system, the FDIC today announced a 7 basis point increase in premiums starting next year.

Hoping more funding will help the Securities and Exchange Commission weed out fraud more, President Barack Obama has proposed increasing the agency's 2010 budget by 13%.

National Credit Union Administration examiners will consider the impact the Corporate Stabilization Program has on balance sheets, according to Supervisory Letter 09-01, issued today.

Three credit unions and two banks have joined together to file a class action lawsuit against Heartland Payment Systems to try to recoup some of the card losses they have taken due to Heartland's card security breach.

The NCUA made clear Friday it expects to follow through on a request to a Los Angeles credit union to delete a safety/soundness ad from its Web site on grounds CU messaging on unsafe banks runs counter to regulations.

Crisis management firm NachmanHaysBrownstein, Inc., said it didn't intend for its press release to imply one credit union client was to blame for the recent bankruptcy filing of U.S. Mortgage Corp. and its CU National Mortgage subsidiary.