Another bank that began its life as a credit union has been purchased by a larger bank.

NCUA today responded to the possibility of a settlement in a lawsuit between Everest National Insurance Company and Robert Sutton, former CEO of Centrix Financial LLC and other former Centrix officials.

In a scathing lawsuit filed in the United States District Court, District of New Jersey, Everest National Insurance Company charges Robert Sutton, former CEO of Centrix Financial LLC and other former Centrix officials with fraud and conspiracy. The charges relate to Centrix's operation of its Portfolio Management Program (PMP) and...

In what could become a trend, the Texas House of Representatives has passed a law which would codify in law the industry's card data protection standards and which would give card issuers a way of recovering the costs reissuing cards should breach's occur.