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RANCHO CUCAMONGA, Calif. –CO-OP Financial Services said it will sponsor NACUSO’s Next Big Idea competition, awarding $10,000 for innovative ideas to propel credit union growth.

WASHINGTON–The FDIC has unanimously approved the merger application submitted by Bank Branching and Trust Company (BB&T) in Winston-Salem, N.C., to merge with SunTrust Bank of Atlanta.

WASHINGTON—The Federal Housing Finance Agency (FHFA) announced it will re-propose its rule – likely sometime next year – to set capital requirements for the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac.

CINCINNATI—Car lease credit applicants registered a 68.8% approval rate in October, a modest dip from the September rate of 72.9%, a new report shows.

SACRAMENTO, Calif.–The Golden 1 Credit Union said it is paying out a member giveback totaling $20 million to approximately 1.1 million member accounts.

WASHINGTON—Credit unions shouldn’t put those furloughed workers assistance programs back in the drawer just yet. The House has passed a short-term spending bill to extend federal government funding through Dec. 20.

ATLANTA—The average auto loan amount continues to rise, as does the amount of money being asked for by subprime borrowers, reports Equifax, which further said the total loan number is down.

EAST HAVEN, Conn. — A former credit union CEO was sentenced to one day in prison for fraud.