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Alarmed that the housing downturn is having a disproportionate impact on minorities of all shades, groups of Hispanic, Asian and African-American real estate professionals have put forth a five-point action to protect people of color...

The Federal Deposit Insurance Corp. is re-staffing its resolution and receivership division as it prepares for an increase in bank failures and the retirement of its veteran bank closers. "We are taking the prudent steps that are necessary...

The Federal Home Loan Bank of Chicago posted a ##% drop in earnings in #### and the troubled bank expects to report a loss in the first quarter. Earnings fell from $### million in #### to $## million in #### as the bank's $##.# billion...

Bayerische Landesbank here has taken #.# billion euros ($#.# billion) of writedowns between mid-#### and the end of March #### on a portfolio that includes billions of dollars in U.S. subprime residential mortgage-backed securities....

Moody's Investors Service is seeking market comment on five proposed enhancements to the securitization process for U.S. residential mortgage-backed securities. The specific enhancements are stronger representations and warranties,...

CALIFORNIA San Diego-Del Mar DataTrac Inc. said that Gregg Holsapple has been named vice president of product and technology. Mr. Holsapple has more than ## years of mortgage industry product management and development experience....

The Federal Deposit Insurance Corp. has sent Fremont General Corp., and its subsidiary Fremont General Credit Corp., a supervisory prompt corrective action directive ordering it to recapitalize Fremont Investment & Loan by May ##. The...

Shearson Financial Network Inc. here has hired Harry R. Kraatz as its chief restructuring officer. Shearson, which had been a mortgage banker that aggregated smaller companies under its banner, had been operating as a mortgage broker...

A regulatory reform proposal by the Treasury Department that would combine NCUA with the banking regulators ignited a firestorm last week among the credit union lobby groups, some of whom insisted the plan could mean the end of the...

Representatives from three of the biggest student lenders among credit unions are scheduled to meet with key lawmakers this week in an effort to claim a place in last yearÂ’s carve-out for non-profits from the major cuts in federal student...

The question for credit unions in #### wonÂ’t be whether or not to ramp up collections activity but how soon to start collections and whether or not to do it in-house. There is a marked increased in collections activities centered largely...

The economic slowdown has credit unions across the country taking another look at their loan underwriting standards. Those that haven’t done so are being urged to make sure they do. “It makes sense to periodically re-evaluate underwriting...

TJX to Settle With MasterCard Holders FRAMINGHAM, Mass.–TJX Cos., which paid $##.# million in December to settle claims with credit union and bank Visa issuers over last year’s massive data breach, has agreed to provide $## million...

Bill Sterner, the well-respected CEO of Elevations CU and a long-time credit union activist, died following a heart attack he suffered March ##. Sterner, ##, joined the CU, then known as University of Colorado CU, in #### as VP and...

Michigan league CEO David Adams will be joining Gov. Jennifer Granholmin on a media tour around the state to spread the word about a package of legislation the governor has signed being called “Save the Dream.” The bills allow the Michigan...

A teller was in critical condition at a nearby hospital last night after she was shot during a robbery at the State Employees CU branch here last week. Police were searching for four people who fled after the hold up, which occurred...

The New York State Assembly passed a bill that would allow New York state and federal credit unions to participate in the Excelsior Linked Deposit Program, which is aimed at making capital available to small businesses. The ELDP was...

When corporate credit unions shortly release their #### year-end financials, it is not expected most will be reporting any significant losses as a result of failed investments in mortgage-backed securities, according to a spokesperson....

Female employees of Safeway Centrex Federal Credit Union here stay in shape to serve members through daily after-hours aerobics classes in the credit union's lobby. Credit union manager Janice Brabham (front left) teaches the #### class....

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