More monetary easing looks unlikely in the United Kingdom, where officials still hope the country can sidestep this year’s European recession.
Credit unions are in much stronger financial condition than they were a year ago, thanks in part to the influx of a record number of new customers. More than 1 million people switched to credit unions in 2011, and that trend shows every sign of continuing. To help people make the switch, the NCUA is promoting a new credit union finder app, CU Locator.
Citigroup’s chairman is ready to resign, as of the annual meeting in April.
Another small Georgia bank failed. State banking regulators closed Global Commerce Bank in Doraville, along the Atlanta beltway. It bet heavily on commercial real estate during the problem years of 2006 to 2009. Local competitor Metro City Bank is taking over the deposits and purchasing half of the assets. Regulators’ work there tonight might be complicated by severe weather in the area, including a tornado confirmed in the area within the last hour.