NEW CUMBERLAND, Pa. - (02/01/05) -- Big 33, one of Pennsylvania'sleading providers of college scholarships joined the fight againststudent loan giant Sallie Mae's hostile takeover offer forPennsylvania's student loan agency. Big 33, which gave out $500,000in scholarships to Pennsylvania students last year, called on Gov.Ed Rendell Monday to reject Sallie Mae's $1 billion offer forPennsylvania Higher Education Academic Association, saying itfeared turning over the state's not-for profit college fundingagency to a for-profit entity. "They're doing this to makemoney--not to make it easier for more kids to gain access to ahigher education," said Mickey Minnich, executive director of Big33. The group's involvement comes as Sallie Mae executives arelobbying state lawmakers to override the PHEAA board's rejection ofits offer. Also opposing the offer are one of the state's largestunion groups, AFSCME; the Association of Independent Colleges andUniversities of Pennsylvania; and the Community Bankers Associationof Pennsylvania.
-
The top five banks and thrifts have combined total assets of nearly $13 trillion.
Just now -
After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
8h ago -
The Federal Reserve's Office of the Inspector General says the Fed has yet to fulfill 65 recommendations, and also identified 18 outstanding issues at the Consumer Financial Protection Bureau.
11h ago -
The bank will use biometric authentication to streamline checkout in stores starting in 2025. It has already completed internal and external pilots of the technology.
11h ago -
Banks reported nearly $27 billion had been tied up in scams or theft against elderly people in a recent 12-month period, according to a report from the U.S. Treasury.
April 22 -
The Federal Deposit Insurance Corp. says it's ready to wind down the global systemically important banks. But until that happens, many in the banking industry are skeptical that regulators have actually developed a workable strategy to end "too big to fail."
April 22