Regulatory & Compliance

SACRAMENTO, Calif. - California Gov. Arnold Schwarzenegger's required state employees to take two unpaid days off each month next year. an attempt to corral a runaway state budget deficit that is expected to reach $42 billion by 2010.

WASHINGTON -- Sales of new homes fell 2.9% in November, and were 35% below the levels of November 2007, the Commerce Department reported today.

WASHINGTON -- The Commerce Department said today that its initial estimate that the gross domestic product would fall 0.5% during the third quarter, compared with a 2.8% increase during the second three months of 2008, was accurate.

WASHINGTON -- Treasury's inspector general has reported that its western regional director had approved the backdating of a capital infusion into the failed IndyMac Bank to avoid repercussions of a falling capital position.

WASHINGTON -- Credit unions and their members looking for information on how to avoid having one's identity stolen can download a copy of the brochure You Have the Power to Stop Identity Theft from NCUA's Web site.

WASHINGTON -- Vice President-elect Joseph Biden will chair a task force to come up with policies aimed at improving the conditions of the nation's middle class, the transition team announced yesterday.

WASHINGTON - The struggling domestic automatic industry received a temporary reprieve today when the Bush administration announced a $17.4 billion loan package.

ALEXANDRIA, Va. - Credit unions wanting to apply for loans to help them rewrite mortgages of their low- and middle-income members now have until December 29 to do so.