State regulators close First Community Banks

Freedom New Mexico Regulators with the New Mexico Financial Institutions Division shut down First Community Bank, which has branches in Clovis and Portales. The Federal Deposit Insurance Corporation released a statement Friday that said it was named the receiver. According to the statement: l The bank failure and its sale is expected to cost the […]

Credit unions angry over bailout tax

By Tom Philpott: PNT columnist Federal credit unions, including those serving millions of military patrons, are fighting to keep off their books nearly $5 billion in charges that regulators have assessed to bail out their largest “corporate” credit union. The U.S. Central Federal Credit Union was in danger of insolvency due to losses on mortgage-backed […]