The Michigan league has turned to the state's bankers association for its newest employee. Michael DeFors, 53, has joined the Michigan league (MCUL) as director of regulatory and legal affairs. DeFors comes to the MCUL from the Michigan Bankers Association (MBA), where for 16 years he was employed in government affairs. During that time he directed the efforts of the MBA's Compliance Committee and worked on regulatory issues for MBA policymaker discussion and resolutions, and represented the association as the industry's spokesperson with the media.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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