NEW YORK—Goldman Sachs & Co. can't force the National Credit Union Administration to arbitrate a dispute over a sale of mortgage-backed securities, despite the existence of a mandatory arbitration clause, according to a report in Law Litigation Daily.
Fresh Today
WASHINGTON—Personal income increased $54.4 billion, or 0.4%, and disposable personal income (DPI) increased $42.4 billion, or 0.3%, in November, according to the Bureau of Economic Analysis.
SYRACUSE, N.Y.—Empower Federal Credit Union is paying a $2.5 million “giveback” bonus to its members in the form of extra interest on deposits and rebates on loans. The bonuses will be paid on Dec. 31.
ONTARIO, Calif.—CU Direct’s 20 for 20 Giveback Campaign has now grown to $60,000 in donations spread across six different Children’s Miracle Network hospitals.
ARLINGTON, Va.—NAFCU is calling on NCUA and other agencies to keep in mind the potential for “significant costs” to CUs following a multi-agency joint notice of proposed rulemaking regarding loans in areas having special flood hazards.
WASHINGTON—Just a month after CUToday.info published a series of stories examining the risk of rising rates and competition for deposits at credit unions, the FDIC has also published its Winter issue of Supervisory Insights in which it urges its regulated institutions to look at key aspects of interest rate risk (IRR) management, including the implementation of effective governance processes, the development of key assumptions for analyzing IRR, the development of an in-house independent review of IRR management systems, and what to expect during an IRR review.
CORVALLIS, Ore.—OSU Federal Credit Union is changing its charter and its name.
ODENTON, Md.—A police officer was struck by a vehicle driven by a credit union robber and officers shot at the vehicle as it escaped.
ST. PAUL, Minn. – Minnesota’s credit unions are reporting robust overall numbers.
GRAND RAPIDS, Mich.—Xtend, Inc., a CUSO owned by 83 credit unions, announced it will pay its third stock dividend in four years as the result of a strong fiscal year, which ended Sept. 30.