BIRMINGHAM, Ala. - (04/04/05) More than 50 credit union executives inthis state have formed a new group called Credit Union Ambassadors.Formed by the Alabama Credit Union League and managed by CU-Vote,the new CU Ambassadors are to be a legislativeadvocacy contact group. According to the Alabama league, eachAmbassador brings to the group a relationship with one or more ofAlabamas legislators or congressmen. This group ofindividuals serves as the Leagues key contacts toAlabamas elected officials, said Alabama LeaguePresident Gary B. Wolter. We have a lot to protect in creditunions and these relationships are a powerful force. mTheinitial meeting of this special group was kicked-off with areception and dinner at Montgomerys Capital City Club whereLieutenant Governor Lucy Baxley was the featuredspeaker.
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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
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The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
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At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
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Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
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The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
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Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
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