Bellco Credit Union reported it has reinvested $10-million into a three-year fixed rate CD with the National Credit Union Foundation's Community Investment Fund (CIF), which directly supports the efforts of credit unions through community grants and contributions to foundations. BCU's investment in the CIF was the fifth largest in the nation by a non-corporate credit union. Half of the CIF dividends are returned to the investing credit union, with the remaining half directed to the NCUF. Fifty percent of the dividends received by the NCUF are provided to state foundations.
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The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.
3h ago -
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
6h ago -
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
April 23 -
Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure.
April 23 -
The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.
April 23 -
The two regional banks are anticipating that borrower demand will increase in the back half of the year. High interest rates and economic uncertainty have been muting the appetite for borrowing.
April 23