The one-time $7-million credit union lost $18,000 in 2013 and $66,000 in 2012 and has reported losses for five straight years.
The credit union was chartered in 1939 to serve employees of the City of Inglewood and their immediate family members and had just 942 members.
NCUA made the decision to liquidate I.C.E. Federal Credit Union and discontinue operations after determining the credit union was insolvent and had no prospect for restoring viable operations.
One-time Rocket exec Mike Fawaz founded brokerage and tech firm Origna8 with his former adversary's backing, which both say will enable it to quickly scale.
Federal Reserve Chair Jerome Powell told reporters Wednesday that he would remain on the Fed board after his term as chair expires next month, resolving the last and most significant open question about his departure and the onset of Kevin Warsh's leadership at the central bank.
President Biden had issued a rule in 2024 requiring newly constructed homes to abide by an energy mandate to be eligible for FHA- or USDA-backed mortgages.
Eligible purchases with the Better Home Equity Card, which lets homeowners instantly spend funds drawn from a home equity line of credit, earn 1% cashback.
Kevin Warsh's nomination to be the next chair of the Federal Reserve passed through the Senate Banking committee in a party-line vote.
Using a non-GAAP measurement, the real estate investment trust, preparing to be bought by CrossCountry, reported a $25 million loss for the first quarter.
