MGIC Investment Corp. reported a $98 million second-quarter loss as a result of falling home values, a softening economy and elevated delinquencies and foreclosures. IAC Interactive Corp. will take a $100 million charge tied to goodwill and intangible assets of its lending segment, which includes LendingTree, according to a filing with the SEC Tuesday. Franklin Bank Corp. is facing its third investor class-action lawsuit since May. The American Bankers Association issued a press release supporting a Pennsylvania federal court ruling that found the National Credit Union Administration went too far in establishing a 3,400-square-mile area as well-defined for determining credit union membership. The Office of Thrift Supervision's director told attendees at an ABA meeting Monday that recent news reports about ailing financial institutions have shaken public confidence in the banking system.
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