Businesses cut 190,000 non-farm jobs last month as unemployment reached 10.2%, the highest rate since April 1983, the Department of Labor reported today.

Regulators should "show some temperance" when examining financial institutions so that they can continue to lend money to help the economy improve," House Financial Services Committee Chairman Barney Frank said in a letter.

The federal court verdict in favor of Community First Credit Union on UBIT represents substantial authority that credit life and disability insurance are exempt from the tax, according to an advisory opinion by attorneys for the UBIT Steering Committee.

New home buyers would continue to get a tax credit and the jobless could get up to 14 additional weeks of unemployment insurance,as a result of a bill passed 430-12 today, following unanimous passage by the Senate last night..

The three credit union trade groups won't have the chance to make public comments about the proposed NCUA budget this year.

Reps. David Obey (D-Wis.) and Sam Graves (R-Mo.) have rarely had tough re-election races and neither legislator serves on the committee with primary jurisdiction over credit unions.

Saying that "economic activity is likely to remain weak for some time," even though there has been some improvements in consumer spending and housing, the Federal Reserve today announced it was keeping interest rates unchanged.

Now comes the really hard part.