Navy Federal Credit Union Bank

John Dolan-Heitlinger, chief executive officer and president of Keys Federal Credit Union since 1991, has been put on paid administrative leave while the credit union's board conducts an audit.And Todd German, former manager of human resources and facilities who reported to Dolan-Heitlinger, was fired Nov. 2 for undisclosed reasons."We are conducting an audit and it is really administrative in nature," credit union board Chairman Paul Mitchell said. "From time to time, we look at all of our expenses and all of our programs and we review things in respect to our business. Our business is fine.... People shouldn't be concerned with the credit union for the safety of their money."

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News Summary - 11/13

A group of Native Americans housed at the Jessup Pre-Release Unit has filed a $30 million lawsuit against the state and prison officials for allegedly denying them the right to congregate for religious ceremonies at the facility.

The group of six, self-represented individuals filed a handwritten complaint in the U.S. District Court of Maryland in Baltimore last week asserting violations of their First and 14th Amendment rights, and discrimination against them in violation of the 1964 Civil Rights Act.

“It bewilders me how someone who is not native to the U.S. but enjoys the rights and freedoms of this country has the audacity to disoblige our rights to freely practice our religious preferences," the group wrote in a supplemental court document.

Each complainant is requesting $5 million from the state and the right to begin religious ceremonies onsite.

The best little deal in banking

If you belonged to a credit union in the past, it was probably because a volunteer at work or church approached you to let you know about the good deal you could get on a car loan.

Credit unions still offer car loans, they're still tied to affiliation groups, and they still have friendly members looking to let you know about a good deal. But today these not-for-profits are in a pitched battle with big retail banks for all your banking business.

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Asia hobbled by permanent credit squeeze

Banks in most Asian countries remain flush with depositors' money. And that has kept them largely insulated from the kind of risks that plagued Northern Rock plc, the troubled UK bank, and Countrywide Financial Corp, the biggest US mortgage lender, which were excessively dependent on short-term money markets for raising funds.

Asian banks, liquid as they are, still aren't able to do a good job of lending to small companies. Sure, they have been offering a competitive - even unrealistically low - interest rate. That isn't enough.

Our message to companies has always been: Don't look at the pricing alone," says GE Commercial's Ng. "In a competitive marketplace, banks may give you a low price. But they take all your collateral - liens on your property, accounts receivable, inventory, everything.

FBI changes description of robbery suspect: She's a he

The FBI has changed the description of a suspect in a Decatur credit union robbery after deciding she's a he.

The suspect in the Alabama Credit Union robbery on Nov. 9 initially was described as a black woman in her mid-40s.

But FBI spokesman Paul Daymond said Friday agents now are searching for Jimmy Maurice Lewis, a 26-year-old preoperative transsexual with breast implants.

Lewis was released on bond after being charged in a June 28 bank robbery in Cleveland, Tenn. Police had found Lewis passed out in his Lincoln Navigator in a parking lot on Aug. 23 in Lenoir City, Tenn., according to news reports.

Investigators on that case said Lewis was undergoing gender reassignment surgery. However, the FBI in a statement Friday referred to Lewis as a "post-operative" transsexual.

Newtek Business Services Reports Third Quarter 2007 Earnings; Meets Previous Guidance

NEW YORK, Nov. 8, 2007 (PRIME NEWSWIRE) -- Newtek Business Services, Inc. (NasdaqGM:NEWT - News) (http://www.newtekbusinessservices.com), a provider of business services and financial products to the small and medium-sized business market, announced today that it reported a loss before income taxes and discontinued operations for the third quarter of 2007 of $4.6 million, which was at the lower-end of the range previously forecasted of $4.6 - $5.1 million. Losses before income taxes and discontinued operations for the nine months ended September 30, 2007 were $11.5 million.

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