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ATLANTA - A series of liquidated credit unions as a result of poor mismanagement and bad loans means small credit unions will see stricter oversight, NCUA Region III Director Alonzo Swann told attendees at the African-American Credit Union Coalition meeting here. A regional director since 1997, Swann oversees FCUs in...

DALLAS - Four more credit unions in Texas have sold their credit card portfolios to TNB Card Services, the card processing arm of credit union-owned Town North Bank that is based in Dallas. The four credit unions are the $69 million Santa Fe FCU, headquartered in Amarillo; the $40 million...

ATLANTA - Despite the ongoing attempts by the banking industry to rescind the industry's tax exemption, NAFCU President/CEO Fred Becker offered reassurance that one of Congress's most powerful figures is not jumping on the bandwagon. "(Bill Thomas) has not said credit unions should be taxed," Becker told attendees at the...

MADISON, Wis. - While it is still too early to have any figures in terms of claim amounts in the aftermath of Hurricane Charley, CUNA Mutual Media Relations Manager Phil Tschudy says that so far most damage reports include wind damage to building interiors, water damage and power outages. One...

MIRAMAR, Fla. - To help victims of Hurricane Charley start rebuilding their lives, Eastern Financial Florida Credit Union is making it easy for members to donate to the American Red Cross. The $1.8 billion credit union has set up a special hurricane relief fund that members can directly transfer to...

WASHINGTON - The U.S. Small Business Administration recently set a record in the number of 7(a) and 504 loans that it has backed in its 51-year history. As of August 6 - eight weeks before the end of fiscal year 2004, which ends Sept. 30, - the SBA's 7(a) loan...

BATON ROUGE, La. - Beginning this month, Louisiana becomes the first state to limit the amount dealers can raise interest rates on vehicle loans above the wholesale rates they get from lenders. In June, the Louisiana legislature passed a law capping interest rate markups at three percentage points. The law...

PURCHASE, N.Y. - Some Dallas and New York metropolitan area McDonald's restaurants will start accepting MasterCard's Paypass Pay product at the end of this year, McDonalds and MasterCard have announced. MasterCard's PayPass is a new "contactless" payment option utilizing radio frequency technology, the companies said. MasterCard PayPass cardholders can make...