WILLIAMSTON, N.C. - (08/25/04) -- In one of the more unusualdevelopments this election season, Democrat G. K. Butterfield waselected to serve an unexpired term in the House on the same day hequalified as the Democratic nominee for November's generalelection. The credit union-backed Butterfield, a long-time memberof State Employees CU, was elected in a special election July 21 toserve out the term of freshman Rep. Frank Balance, who retired forhealth reasons, and won the primary for the full two-year term onthe same ballot. Because of the predominance of Democratic votersin this rural northeastern part of the state, Butterfield is widelyexpected to win the November election, according to Dan Schline,chief lobbyist for the North Carolina CU League. The credit unionlobby has yet to weigh in on the state's critical Senate race, tosucceed John Edwards, the Democratic candidate for vice president,where longtime credit union supporter, Republican Rep. RichardBurr, is facing off against Democrat Erskine Bowles. Bowles, whoserved as chief of staff in the Clinton White Hose, lost the 2002race to Republican Elizabeth Dole.
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A team of ex-First Republic private bankers hopes to serve entrepreneurs who once worked with Silicon Valley Bank.
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The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.
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In a joint letter signed by over 50 bank trade groups, leaders in the banking industry urged regulators to revise bank regulatory thresholds upward to keep up with inflation.
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Dime Community Bancshares, which has added dozens of bankers over the past two years, is now ready to consider expanding its geography.
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The conviction of a fraud ring mastermind highlights growing risks in home equity lines of credit as equity-rich borrowers become prime targets.
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The Senate passed President Trump's tax and spending bill Tuesday, but questions around Consumer Financial Protection Bureau funding, 1071 delay and remittance taxes remain as GOP leaders scramble to pass the bill out of the House before Trump's July 4 deadline.
July 1