BOSTON - (01/09/06) The Massachusetts Department ofBanking announced Friday it has approved a request from HaverhillMunicipal Employees CU to expand its current charter servingemployees of 11 local cities and towns to include all healthcareworkers in those municipalities, as well. The $10 million creditunion is currently serving municipal employees in Haverhill,Groveland, Merrimac, West Newbury, Amesbury, Newburyport,Georgetown, Methuen, Lawrence, Andover and North Andover. Under anorder approved last month the credit union, which had requestedpermission to serve health care workers in all of thosecommunities, may now serve employees at specific health carefacilities in those cities and towns.
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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.
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The state's Comptroller of Public Accounts is one of several notable non-depositories with access to the Fed's payments system, along with the Chicago Mercantile Exchange and the Tennessee Valley Authority. So why do they have accounts while some neobanks don't?
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
April 24 -
The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
April 24 -
At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
April 24