EVANSVILLE, Ind. - (06/26/06) William Mapother, thenationally renown expert on consumer bankruptcy and a colorfulpresence at credit union events for three decades, died last weekat Deaconess Hospital here. Mapother, 68, was en route to his homein Kentucky after an Alaskan cruise with his fiancĚ, familyand friends. The cause was complications due to pulmonary fibrosisand lung cancer. Mapother taught seminars for credit unions banksand other lenders and was the author of 13 books on bankruptcy andwas a regular columnist for Credit Union Magazine since 1985. Healso served as counsel for the Kentucky CU League and the WestVirginia CU League.
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The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
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The first-quarter increase involved commercial real estate loans, including some problematic multifamily loans and an office credit, but none of the criticized loans were to consumers, officials at the Dallas company say. Further CRE deterioration is anticipated.
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The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
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The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
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Charge-offs and nonperforming loans rose at the Georgia bank in the first quarter. But it blamed the problem on one large client and said the matter has been resolved.
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Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.
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