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SEC Charges Brokers With Subprime Fraud

By Staff Writer

WASHINGTON -- The Securities and Exchange Commission has charged five Los Angeles brokers with securities fraud, alleging that from 2005 through 2007, the brokers convinced their customers to refinance their homes with subprime mortgages so that the brokers could sell their clients unsuitable securities.

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New Fed Funds Rate Pushes Corporate Spread Income Higher

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Ike Disaster Funds Reach $469,000

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October 08, 2008

Tropical Financial Woos Businesses With Coffee Talks

PEMBROKE PINES, Fla. -- In an effort to introduce local entrepreneurs to business services, Tropical Financial Credit Union has launched its Coffee Talks' series.

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October 08, 2008

Maine CU CEO Writes Against KV Merger

AUGUSTA, Maine -- Even though he acknowledged the merger between the $51 million KV Federal Credit Union and Kennebec Savings Bank would take a competitor out of his market, the vice president of another Augusta credit union said that the merger is a bad deal for credit union members.

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October 08, 2008

Vancity Deploys Data Integration Tools

VANCOUVER, British Columbia -- Canada's largest credit union is the first to use the Master Data Service platform from Chicago-based Initiate Systems Inc.

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October 08, 2008

Fed Funds Cut by Half Point; Other Central Banks Take Similar Actions

WASHINGTON-- Responding to the continuing woes of the world's financial markets, the Federal Reserve today joined with other leading central banks to cut key interest rates.

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October 07, 2008

Discover Poised for Potentially Large Payment From Visa, MasterCard

RIVERWOODS, Ill. -- Discover Financial Services stands to receive a significant payout from the resolution of some long-standing litigation with Visa and MasterCard.

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October 07, 2008

Federal and State Officials Order Resource One CU to Halt Safety Ads

WASHINGTON -- For the second time in less than a month, federal and state authorities have coordinated efforts to force a Texas credit union to stop running advertisements that the agencies say question the safety of deposits at banks.

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October 07, 2008