News

COLUMBUS, Ohio. -- It's a mixed bag for banks, but Fannie and Freddie's new Treasury backing is good news for corporates, who say it could even mean a rebound in the value of corporate-owned mortgage backed securities.

ENGLEWOOD, Colo.-- A credit union is the first financial institution in Ohio to begin issuing its members credit and debit cards on-site, according to the lending vendor of the instant issuing technology.

ENGLEWOOD, Colo.-- A credit union is the first financial institution in Ohio to begin issuing its members credit and debit cards on-site, according to the lending vendor of the instant issuing technology.

WASHINGTON -- Three Harrisburg, Pa.-area credit unions would be allowed to keep their new members but not recruit additional ones in their expanded field of membership, according to a proposed remedy the NCUA yesterday agreed to with the American Bankers Association.

DALLAS -- The overall trend of credit unions moving their credit and debit processing under one roof continued as TNB Card Services announced it has picked up the debit processing business of Smart Financial Credit Union.

MERIDEN, Conn. -- Members of the Credit Union League of Connecticut (www.culct.coop) are being provided third-party vendor evaluation and due diligence software aimed at helping the 146 credit unions comply with NCUA regulations.

WASHINGTON -- HUD is granting 90-day moratoriums on foreclosures throughout the Gulf Coast area in response to Hurricane Gustav.

LAS VEGAS -- Nevada credit unions were considering plans Monday to stoke up safety soundness communication with members at branches and on Web sites following the failure last Friday of the $3 billion Silver State Bank, sold under a FDIC-arranged purchase deal with Zions Bancorp of Utah.