WASHINGTON - (06/28/05) Both CUNA and NAFCU continue to plugaway at garnering support for regulatory relief efforts in generaland the Credit Union Regulatory Improvement Act in particular, butCU lobbyists were split on how quickly credit unions will seeaction on this front. Now that they have had hearings withregulators and industry in both the House and Senate we can lookfor both chambers of Congress to turn their attention to regulatoryrelief after the July 4 recess, suggested NAFCU's BradThaler. On the Senate side, Crapo has requested comment fromthe regulators by July 1st, so hopefully we could move toward amark-up of the bill sometime after the July 4 recess but before theAugust recess. But CUNA's Gary Kohn wasn't so sanguine.It's apparent to those who were hopeful of swift action bythe Senate that that is not likely to occur, he said.It seems there's still a ways to go on this We try tointerpret all kinds of things, and who attended is always a clue,and this case, there were not many there. Obviously, they didn'tbelieve this was a pressing issue.
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Powered by younger, affluent cardholders, American Express saw a 6% increase in billed business during the first quarter, while weak growth still plagues its small-business segment.
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For the better part of the past decade, the Federal Reserve Board in Washington has played a more active role in presidential searches by regional reserve banks. The shift seems to have made the system more diverse, but some argue it's at the expense of regional bank independence.
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Beth Johnson, a self-described math geek, is driving the bank's ESG strategy and training its employees to keep pace with industry trends.
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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.
April 18