The Chairman of the House Committee on Financial Services and other leading committee members are seeking broad support for new legislation that would stop the U.S. government from taking any steps to implement regulations that require U.S. financial institutions to police Internet gambling. Testimony before Congress earlier this month clearly showed that the proposed rules to implement the ...

The federal financial regulatory agencies today issued proposed illustrations of consumer information for certain adjustable-rate mortgage (ARM) products described in the agencies’ Statement on Subprime Mortgage Lending (Subprime Statement), effective July 10, 2007. The Subprime Statement recommends communications that ensure consumers have clear, balanced, and timely information about the relative benefits and risks of certain ARM products. The illustrations are intended to assist institutions in providing this information.

The federal financial regulatory agencies and the Conference of State Bank Supervisors (CSBS) on Tuesday issued a statement encouraging federally regulated
financial institutions and state-supervised entities that service securitized residential
mortgages to review to determine the full extent of their authority under pooling and
servicing agreements to identify borrowers at risk of default and pursue appropriate loss mitigation strategies designed to preserve homeownership.

The Chairman of the House Committee on Financial Services and other leading committee members are seeking broad support for new legislation that would stop the U.S. government from taking any steps to implement regulations that require U.S. financial institutions to police Internet gambling. Testimony before Congress earlier this month clearly showed that the proposed rules to implement the ...

These days, more and more people are saying "Charge it."

Le Mouvement des caisses Desjardins, la plus importante institution financière au Québec, est fier d'être à nouveau associé à la présentation de la 25e édition du Festival de la chanson de Tadoussac.

Nearly one out of three Québec residents now use Desjardins AccèsD Internet and telephone services for their financial transactions. With its 2 million regular users, the largest financial institution in Québec once again comes out on top as the leader in online financial services.

More than 400 communities in Ontario are home to at least one co-operative or credit union. And now it’s easier than ever to locate a co-operative based on location, product or service, thanks to an online searchable database. The e-directory assembles basic information on each of the province’s 1300 co-ops, credit unions and caisses populaires.

Customer-owners of both Halifax Civic Credit Union and Credit Union Atlantic have approved an amalgamation of their two organizations. At separate meetings held last month, both memberships voted strongly in favour. This step represents the last required approvals needed to bring the two credit unions together.

The amalgamation will be effective July 1, 2008, under the Credit Union Atlantic name, with Jamie Baillie as President and CEO. The new Board of Directors will consist of Directors from each of the existing credit union Boards.

The Irish League of Credit Unions Foundation has joined the Canadian Co-operative Association (CCA) in its effort to reduce poverty in Ghana through credit unions. The move was announced this week at a meeting in Dublin during which the Irish Foundation committed €85,000 ($CAD133,000) to CCA’s fundraising arm, the Co-operative Development Foundation of Canada.