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Looking back 14 years ago finds the American Bankers Association charging that a CUNA program to win bankers' signatures on statements of support violates antitrust laws. "Failing to make clear that your association is not advocating economic retaliation against those who do not sign the support statement could quickly raise...

WASHINGTON - The Federal Reserve on May 28 issued a consent Order to Cease and Desist and an Order of Assessment of Civil Money Penalty against Citigroup Inc. and its credit subsidiary CitiFinancial Credit Co. and ordered the largest financial institution in the U.S. to pay a penalty of $70...

HARRISBURG, Pa. - The Pennsylvania Department of Banking ruled that three credit unions whose community charter conversions are being contested by the Pennsylvania Bankers Association and several banks, do not have to disclose their business and marketing plans. On May 25 the Department of Banking held its first but what...

IRVINE, Calif. - Results of a recently completed nationwide study by Experian Consumer DirectT on the effects of mortgages on consumer credit scores show consumers with at least one open mortgage have an average Experian PLUS score of 716, compared to 667 for non-mortgage consumers. Experian Consumer Direct spokesperson Heather...

PASADENA and EL SEGUNDO, Calif. - Wescom Credit Union and Unocal Federal Credit Union have announced merger plans. As part of the deal the $115 million Unocal FCU will operate as its own division within Wescom CU and will continue to serve members under the Unocal brand. In addition, all...

In the 2004 Lending Strategies and Trends Research completed by CUNA Mutual Group in December 2003, credit unions with $50 million or more in assets were asked about their consumer and real estate lending programs. Here are some of the results concerning CUs' mortgage programs. Loan Volume Purchase Money versus...

WASHINGTON-Congressman Bernie Sanders (I-Vt.) told his colleagues in the House recently that credit unions are "one of the most vital, one of the most democratic, institutions in America." In a speech on the House floor May 17, Sanders explained, "Credit unions are cooperatively owned by those who deposit money in...

"We realize the low-hanging fruit (are) probably gone." - Jim Salmon, business lending special assistant, who is overseeing Navy Federal FCU's new Navy Federal Small Business Services division, acknowledging its late entry into member business lending. "This is just another example of the hypocrisy on the part of the bankers...