In a move that brings the Democrats a step closer to a 60-seat majority that could enable it to block filibusters, Sen. Arlen Specter (R-Pa.) is expected to cross the aisle and join the majority party, according to several media reports.

James Tedisco, a Republican who was backed by CUNA and the Credit Union Association of New York in a special election to the U.S. House, conceded defeat on Friday, almost a month after the election.

Employees of credit unions with credit card programs can learn about the new regulations on credit cards at NAFCU's Webcast from 2:00-3:30 p.m. EDT. on May 6.

Consumers bought fewer big-ticket items such as cars, appliances and office equipment last month, the Commerce Department reported today.

In a sign that the economy is still sluggish, sales of new homes fell .6% in March, the Commerce Department reported today.

Sales of existing homes fell last month as did the median price of those residences, the National Association of Realtors reported today.

Senate Majority Whip Richard Durbin said today that a vote on a measure to allow bankruptcy judges to rewrite the terms of mortgages "could come as early as next week."

A day after a House committee approved a measure to place greater restrictions on credit card issuers, President Obama today endorsed the measure and urged lawmakers to go even further.