BILOXI - (09/06/05) -- Keesler FCU was dealing with thedevastation at its home office and branches last week by reroutingsome of its transactions all the way to its London (England)offices, where electronic transmissions were readily beingprocessed. The state's largest credit union had two more branchesup and running over the weekend, after sustaining what one observerdescribed as millions of dollars in damages from Hurricane Katrinaand the aftermath of the mighty storm. Damages included thedestruction of two of its branches, substantial damages at otherfacilities, including the loss of half of the roof at itsheadquarters, which was in the eye of the storm. The credit unionwas trying to operate in disaster mode, but was limiting cashwithdrawals at some sites because of limited cash delivery in thearea.
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The Wyoming-based digital asset bank filed paperwork to challenge last month's district court ruling, which affirmed the Federal Reserve's view about its discretion over master account applications.
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The former head of the Consumer Financial Protection Bureau resigned Friday after the troubled rollout of the Free Application for Federal Student Aid led some House Republicans to call for his resignation.
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In the inaugural iteration of American Banker's news quiz, test your knowledge on top articles covering the legal battles of the Consumer Financial Protection Bureau, new technology testing at JPMorgan Chase, earnings season and more.
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