LAS VEGAS - (07/15/05) -- The opening general session of theNAFCU annual convention here got off to an inauspicious start. Therear of the stage featured a replica of a famous local landmark,the "Welcome to Fabulous Las Vegas, Nevada" sign that sits at thesouth end of the Strip. Just before NAFCU Chair Diane Furnasstepped up to the podium to address the group, the "M" of "WELCOME"fell down with a loud thud. A few minutes later, the first "E"dropped. Luckily, no one was near either of the falling letters.Furnas, who is departing the NAFCU Board after the meeting, saidthe conference theme, 'Raising the Stakes, is "appropriate for ameeting in Las Vegas, a town full of high stakes games." Thecombination of bank attacks, rising interest rates and threats tosecurity "raise the stakes," she said. In response, "credit unionsare stepping up their marketing efforts and making innovativechanges to attract more members."
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Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
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The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
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The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
April 25 -
Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
April 25 -
Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
April 25 -
The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
April 25