In another sign that the housing market may be picking up, sales of new homes increased 4.7% in February, the Commerce Department reported today.

Edgar F, Callahan, who as a regulator, CEO and consultant had a vast influence on the shape of the modern-day credit union movement, died on March 18 in Sacramento, Calif., after a long illness. He was 80.

WASHINGTON -- Testimony from credit union regulators during a Senate Banking Committee hearing last week focused on maintaining a distinction between the bank and credit union regulators.

WASHINGTON - CUNA President Dan Mica today made another pitch for lifting the cap on member business loans, but Sen. Christopher Dodd said he wants to proceed with caution because of concerns about regulatory oversight.

CUNA President Dan Mica told a Senate panel today that the credit union movement "would prefer some help'' from the government help in the form of loans to help spread out the cost of losses to the NCUSIF.

Private investors and the government would work together to buy bad assets to help financial institutions get back on their feet, under a plan unveiled today by Treasury Secretary Timothy Geithner.

NCUA Chairman Michael E. Fryzel said today that his agency is putting together a proposal would create a new mechanism to replenish the NCUSIF.

Low mortgage rates and an increase in the availability of foreclosed properties helped trigger an increase in sales of existing homes last month, the National Association of Realtors reported today.