Credit Union Times | Accurate and Timely CU News

Heartland CEO Says Firm Has Not Lost Any Merchant Clients

By David Morrison

Even as plaintiff's lawyers swarm like hornets, its stock price has plummeted and it has had to cut its dividend, Heartland Payment Systems has not lost merchant processing clients as a result of the biggest card security data breach in history.

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Judge Revokes $10 Million Bail, Madoff Sent to Jail

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MEMBERS: Citigroup Memo Changed Thinking

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March 11, 2009

Foreclosures and Related Filings up Almost 6%

Foreclosure filings, bank repossessions and similar actions increased 5.9% last month and were up 29.9% over February 2008, according to a report released today by RealtyTrac, an online seller of foreclosed properties.

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March 11, 2009

Retail Sales Drop Slightly

The recession continued to cause consumers to cut back on spending in some areas of the economy, the Commerce Department reported today.

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March 11, 2009

CUNA and NAFCU Urge Changes to Accounting Rules

In light of the current economic crisis, both CUNA and NAFCU today urged lawmakers to consider changing how financial institutions do some of their accounting.

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March 11, 2009

Madoff Pleads Guilty to Masterminding Ponzi Scheme

For his role in the loss of $65 billion from former clients, Bernard Madoff today pleaded guilty to 11 counts of theft, money laundering, fraud and perjury and now faces up to 150 years in prison.

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March 11, 2009

Pennsylvania CUs Make Almost 15,000 Payday Alternative Loans, Association Says

Credit unions participating in the Credit Union Better Choice program have made almost 15, 000 loans to consumers seeking an alternative to higher cost payday loans, according to the Pennsylvania Credit Union Association.

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March 10, 2009

CUNA Urges Task Force

Saying that the current rules governing how financial institutions must calculate the value of assets are a "major contributing factor to the nation's financial crisis,"

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March 10, 2009