News

U.S. Central is forecasting $47.9 million in noninterest expense for 2009, compared to the $64.2 million it spent in 2008, which marks a 25% reduction.

The Senate Appropriations Committee yesterday approved a $46.4 billion spending bill that includes a provision giving the Central Liquidity Facility about $40 billion in borrowing authority and not be subject to a cap.

The SEC said California's IOUs are indeed securities and holders and buyers of the registered warrants are protected by the provisions of the federal securities laws that prohibit fraud in the purchase or sale of securities.

Credit unions and community banks were featured in a July 8 ABC News segment for charging lower overdraft fees than bigger, national banks.

President Obama is scheduled to have an audience with Pope Benedict XVI today, three days after a papal encyclical praised the work of credit unions.

On the heels of a sweeping management shakeup, Memphis Area Teachers Credit Union confirmed Friday it is conducting a search for a new CEO as it puts behind "paper" investment losses from last year and finds itself on a profitable path in 2009.