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Countrywide Layoffs, Job Losses Roil Wall Street; Fed Action Sought

By Staff Writer

Countrywide Financial announced late Friday that it would layoff as many as 12,000 workers, nearly 20% of its workforce, in an effort to trim costs in a down mortgage market. IndyMac Bancorp, another large lender also said it would trim 1,000 employees, or 10% of staff to save money.

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CURIA Adds Yet Another Co-Sponsor, Tally to 126

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NCUA: Regs Do Not Require Notification Process For Some CU/Bank Mergers

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September 07, 2007

Iowa Insurance Commissioner Approves CUNA Mutual Consolidation

The Iowa Insurance Commissioner has approved the merger of the CUNA Mutual Life Insurance Company with the CUNA Mutual Insurance Society, clearing the way for the insurer to consolidate two of its branches into one.

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September 07, 2007

WesCorp Sees Record Certificate Month in August

Despite having normal seasonal outflows of $1 billion, WesCorp members moved a record $3.3 billion into certificates during August.

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September 07, 2007

ALM Training Package Offered by Corporate Central

Corporate Central Credit Union is now offering an ALM package that includes a series of Webinars, a modeling workshop, quarterly reports and consulting.

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September 07, 2007

Alliance One Adds Pennsylvanians to State Benefit Access Program

Alliance One, the national selective-surcharge ATM group managed by Corporate One Federal Credit Union, is now providing surcharge-free access to Pennsylvania residents who receive state-issued benefits and payments via debit cards.

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September 07, 2007

Brokerage Study Finds Credit Unions Have Room to Improve

Investment sales programs in credit unions have lower financial advisor productivity, slightly lower revenue penetration relative to their size, and thinner margins on that revenue than brokerage programs in banks, a new study shows.

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September 07, 2007

Employees Likely to Use Financial Planning if Included in Benefits

More than 80% of employees said they would take advantage of a financial planning option if their companies cover a portion of it as part of the employee benefits package, according to a new study.

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September 06, 2007

Newtek Business Acquires Merchant Processing Portfolio

Newtek Business Services, Inc. has purchased a merchant portfolio from Axeus, Inc. a product and services provider that focuses on technology for small businesses and consumers.

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Top News Stories

Countrywide Layoffs, Job Losses Roil Wall Street; Fed Action Sought

CURIA Adds Yet Another Co-Sponsor, Tally to 126

NCUA: Regs Do Not Require Notification Process For Some CU/Bank Mergers

Recommended Just For You

News Stories

Iowa Insurance Commissioner Approves CUNA Mutual Consolidation

WesCorp Sees Record Certificate Month in August

ALM Training Package Offered by Corporate Central

Alliance One Adds Pennsylvanians to State Benefit Access Program

Brokerage Study Finds Credit Unions Have Room to Improve

Employees Likely to Use Financial Planning if Included in Benefits

Newtek Business Acquires Merchant Processing Portfolio