LA HABRA, Calif. - (06/09/06) American First CU has caughtthe attention of the supermarket industry by placing a clever groupof colorful food-oriented ads invoking foods in a supermarket tradepublication. One ad accompanying an ear of corn states, Nowthat we have your ear. Another showing a box of strawberriespromises Berry good service. A third piece shows afour-legged crustacean and asks, Banks make youcrabby? The ads are meant to invoke the credit unionstag line, there for you, in this day where hugecommunity institutions, like southern CaliforniasAlbertsons, are being merged out of existence or disappearing.American First CU has more than $700 million in assets and servesOrange County and several surrounding communities.
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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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