Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Inside Washington (08/04/2008)
* WASHINGTON (8/5/08)—First Priority Bank, Bradenton, Fla., offices opened Monday as part of the Atlanta-based SunTrust Bank network after the Florida bank was closed Friday by state regulators and the Federal Deposit Insurance Corp. (FDIC) was named receiver. The FDIC announced that SunTrust Bank assumed the failed bank’s insured deposits for no premium. In addition, SunTrust has agreed to purchase approximately $42 million of First Priority’s assets, comprised mainly of cash, cash equivalents and securities. The FDIC, however, said it entered into a separate agreement with LNV Corp., Plano, Tex., to purchase $14 million in First Priority's assets. LNV Corp. is a subsidiary of Beal Bank Nevada, Las Vegas. The FDIC will retain the remaining assets for later disposition. Over the weekend, First Priority customers were able to access their money via check, ATM or debit card. The FDIC reported that as of June 30, First Priority had total assets of $259 million and total deposits of $227 million. The bank closing was the third in two weeks and the eighth this year … * WASHINGTON (8/5/08)--Lenders and mortgage servicers are being encouraged by Congress and lawmakers to halt foreclosing on borrowers in an effort to help them refinance (American Banker Aug. 4). On Friday, San Diego City Attorney Michael Aguirre asked Bank of America Corp. to place a voluntary moratorium on mortgages from Countrywide Financial Corp. Rep. Barney Frank (D-Mass.) also has requested that lenders slow foreclosures for borrowers that are eligible for a refinancing program expected to begin in October. Consumer groups have suggested a blanket moratorium should be issued, while others say the loan modifications need to be performed individually. Scott Talbot, senior vice president for government affairs at the Financial Services Roundtable, said modifications are done on a case-by-case analysis ...


RSS





print
News Now LiveWire
Registration now open for @CUNA @WOCCU summer conference in Denver July 12-15 http://t.co/opq1jypsXL #ACUC #CUinDenver2015
13 hours ago
Emergency loans post- #Blizzard2015 offered by @ScientFCU in Conn. http://t.co/U9tIBzPOZV
14 hours ago
Did you get your spot in the @CUCB #CherryBlossom 10 Mile Run? Check lottery results here http://t.co/6rxT0osyWJ @CU4Kids @CMNHospitals
14 hours ago
@FamilyFirstFCU has implemented a grant program through the FHLB of NY to help first-time home buyers.
14 hours ago
#BREAKING: @federalreserve offers few new hints on rate-hike timing in policy statement http://t.co/lgZ6zZ1Vrr
15 hours ago