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BOSTON - Kessler Financial Services, long considered a brokerage firm with ties to credit card giant MBNA, should more properly be understood as MBNA's business development arm when it is working with credit unions, according to Steven Fuld, Senior Vice President of the Boston-based company. "In the area of affinity...

VANCOUVER, Wash. - While it is still too soon to make predictions, it appears that members of Columbia Credit Union opposed to its attempt to become a mutual bank may succeed in preventing the proposed move. Columbia's membership voted narrowly in the fall of 2003 to change the CU's charter...

WASHINGTON-Comptroller of the Currency John Hawke will undergo surgery for prostate cancer Jan. 30. He is expected to make a full recovery but will have to take some time out of the office, according to OCC Spokesperson Kevin Mukri. Hawke will travel to New York City for the surgery at...

SACRAMENTO, Calif. - Despite some $4.6 billion in cuts proposed by California Gov. Arnold Schwarzenegger in his 2004-2005 budget, the state's Department of Financial Institutions (DFI) came away with an increase in both funding and personnel. Schwarzenegger's $99.1 billion spending plan calls for an increase of $1.9 million and 20.9...

WASHINGTON-CUNA and NAFCU each wrote the Federal Reserve Board and Federal Trade Commission to endorse the recently proposed effective dates for certain provisions of the Fair and Accurate Credit Transactions Act. The agencies previously requested comment on a proposed effective date of March 31, 2004 for changes in the law...

DENVER - Citing its role to serve the "unbanked and underserved," Denver Community Federal Credit Union has revealed plans to open a low-income branch next fall that will offer check cashing to non-members while also utilizing a stored value card. The new branch, located in a Hispanic area of Denver,...

WASHINGTON-The U.S. Small Business Administration reopened its 7(a) loan program Jan. 14 after a temporarily halt with an additional $470 million in lending authority and a $750,000 loan cap. Short of funds because of Congress' failure to pass the omnibus appropriations bill, SBA temporarily halted 7(a) guarantees on Jan. 6....

PURCHASE, N.Y. - With a little more than two weeks remaining before its signature debit cards are banned from Wal-Mart stores, MasterCard has fired back. A survey the card brand commissioned with the Harris opinion research firm found that nearly two-thirds (63%) of respondents say their feelings toward a store...