WASHINGTON - (09/21/05) -- Members and employees of AmericanAirlines FCU raised $300,000 for the American Red Cross's HurricaneKatrina relief--enabling CEO John Tippets to present an oversizedcheck for $400,000 to the Red Cross during NAFCU's annualCongressional Caucus Tuesday. Tippets said the $2 billion FortWorth credit union promised to match the first $100,000 raised bymembers and employees, making a total of $400,000. Tippets said heexpects the credit union family will raise more. "I expect it to goto $500,000," he told The Credit Union Journal. At the same time,the credit union's sponsor is disbursing $1,000 to employeesaffected by the Hurricane through its American Airlines FamilyFund, after receiving a $100,000 donation by the credit unionearlier this year.
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The credit card issuer added two programs with home goods retailers Raymour and Flanigan and Bed, Bath and Beyond during the quarter while also increasing its stock buyback allocation and dividend payouts.
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A cohort of more than 100 Republican members of Congress sent a letter to Treasury Secretary Scott Bessent urging the administration to protect and fund a community lending program that has been gutted despite its legal mandate and Bessent's backing.
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The company's software automates much of the process of getting money transmitter, lending and other types of licenses.
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The company is leveraging its bank charter and strong customer acquisition, with app logins up nearly 50% from borrowers.
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The Dallas-based regional bank's return on average assets exceeded its goal of 1.1% for the first time, coming in at 1.3% for the third quarter. The bank has been in transformation mode since 2021.
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U.S. regulators have reached a rock-bottom settlement deal with a former Wells executive accused of wrongdoing in the phony-accounts scandal. The OCC had sought to recover $10 million from Claudia Russ Anderson, a onetime risk executive at the bank.
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