MADISON, Wis. - (09/15/04) -- The National Labor Relations Boardsaid it won't take up a petition from professional employees atCUNA Mutual Group to form a separate union within the Office andProfessional Employees International Union until the union'scurrent unfair labor practices charges against the company areresolved. "Pending completion of the investigation and adetermination as to the alleged unfair labor practices, processingof this matter is being held in abeyance," said Irving Gottschalk,acting regional director for the NLRB, in a letter to all partiesobtained by The Credit Union Journal. The union, which has beenembroiled in negotiations for six months, claims CUNA Mutualengaged in 'regressive bargaining' by withdrawing an agreement tomake pay raises retroactive after a contract is signed; intimidatedunion members; and unilaterally changed work conditions. They alsoclaim the company was behind the rare effort to split the unionbecause former chief executive Michael Kitchen offered to help paythe legal expenses for the bid. The professional employees group,frustrated over the failure to arrive at a new contract, haspetitioned the NLRB to form its own collective bargaining unitwithin the OPEIU.
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In its latest financial stability report, the Federal Reserve found that asset valuations continue to be elevated and leverage levels remain high, especially among nonbanks like hedge funds and insurance firms.
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Federal Reserve Board Gov. Stephen Miran said the growth of stablecoins and cryptocurrencies will likely impact monetary policy and could lead to lower interest rates.
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The Spanish bank says it can connect small and medium-size U.S. businesses with local market experts on its newly launched digital platform Navigator Global.
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The Pittsburgh-based bank said Friday that it will focus on building 300 branches in high-growth markets by 2030. It also minimized the prospects for another acquisition on the heels of its recent deal for Colorado-based FirstBank.
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Consumers' and merchants' penchant for 0% loans are boosting the buy now/pay later lender in its first fiscal quarter ended Sept. 30, as gross merchandise volume hit a record.
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HoldCo Asset Management drops its pursuit of proxy battles with Columbia Banking System and First Interstate; Cape Cod's Mutual Bancorp prepares to acquire Bluestone Bank; Servbank HoldCo announces plans to acquire IF Bancorp; and more in this week's banking news roundup.
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