News

WASHINGTON -- A card issuer that marketed Visa and MasterCards specifically to the subprime market will have to reverse more than $114 million it charged cardholders in fees, as part of a settlement reached with the Federal Trade Commission.

NEW YORK -- Visa USA has announced the repurchase of over $1 billion worth of its class B shares, currently held by credit unions and banks which issue Visa, to fund an additional deposit into an escrow account set aside to cover legal expenses.

WASHINGTON -- Vice President-elect Joseph Biden will chair a task force to come up with policies aimed at improving the conditions of the nation's middle class, the transition team announced yesterday.

RALEIGH, N.C. -- Grant and Lee are not only names known for the war between the North and South; Local Government FCU also paid of loans for members Richard Grant and Kelly Lee.

SHREVEPORT, La. -- Originally scheduled to take place in Chicago, the African-American Credit Union Coalition said it is moving its 2009 annual conference to Las Vegas.

WASHINGTON - The struggling domestic automatic industry received a temporary reprieve today when the Bush administration announced a $17.4 billion loan package.