News

Norlarco Credit Union was placed into conservatorship last July by the NCUA and owing to law in the state of Colorado it was kept quiet to ostensibly avoid a run-on-the-bank by worried members.

The Federal Financial Institutions Examination Council released an updated version of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual today.

A business has put up an Internet site that offers to help consumers with poor credit scores by adding them as authorized users of consumers with good credit scores.

Even without real estate loans at risk, credit unions ought to possess a thorough understanding of what's contained in portfolios as they gird for higher delinquencies and foreclosures, NCUA's top Western states regulator said Thursday.

In the first in-person interview he has granted to the credit union press since the bankruptcy of Centrix Financial, Robert Sutton called the taking down of the Centrix Portfolio Management Program, the subsequent fallout for credit unions and bankruptcy of Centrix Financial, a tragedy that didn't have to happen.

Calming the waters a bit in the nation's tight credit markets, Countrywide Financial Corporation, the leading mortgage lender and servicer in the U.S., announced yesterday that it received a $2 billion strategic equity investment from Bank of America. Last week Countrywide drew down on its full $11.5 billion line of...