News

In a surprise move, Central States Mortgage Co., a Wisconsin-based CUSO and one of the nations's largest mortgage units servicing 250 CUs, suspended operations Monday following long running court litigation and a management shakeup involving the CUSO.

The Insurer Financial Strength rating of CUNA Mutual Insurance Society and its wholly owned property casualty subsidiary CUMIS Insurance Society, Inc. has been downgraded from A to AA- by Fitch Ratings.

For Treasury Secretary Timothy Geithner, who has practically been flying solo since taking office, help may soon be on the way.

Consumers are being cautious about accumulating more credit card debt, according to an analysis released today by TransUnion.com, one of the largest credit rating agencies.

Iowa Corporate Central Credit Union CEO Sara Flynn told the Credit Union Times her board and management team weighed the benefits and risks of participating in the NCUA's Temporary Corporate Credit Union Share Guarantee Program.

Banks would have to pay a smaller premium to replenish the FDIC if Congress approves a bill by Senate Banking Committee Chairman Christopher Dodd to increase in the regulatory agency's line of credit at the Treasury Department.