WASHINGTON – CUNA reported yesterday it contributed $200,000 to members of Congress last month, almost half of it to key players who will influence debate over the newly introduced CU Regulatory Improvements Act, better known as CURIA. CUNA made the maximum allowable $10,000 contribution to Massachusetts Rep. Barney Frank, the chairman of the House Financial Services Committee; to Speaker of the House Nancy Pelosi, as well as $5,000 to Pelosi’s leadership PAC, known as PAC to the Future; and to House Majority Whip James Clyburn of South Carolina. Also, House Majority Leader Steny Hoyer of Maryland received $2,500 and House Minority Leader John Boehner of Ohio received $5,000. CUNA also contributed $51,000 to a variety of leadership PACs, including $5,000 to Pelosi’s PAC and to Citizens for Action PAC (Paul Kanjorski, D-Pa.); Battle Born PAC (Sen. John Ensign, R-Nev.); RAD PAC (George Radanovich, R-Calif.); Eureka PAC (Ken Calvert, R-Calif.); Mary’s PAC (Mary Bono, R-Calif.); KING PAC (Peter King, R-N.Y.); Searchlight Leadership Fund (Senate Majority Leader Harry Reid, D-Nev.; Congressional Black Caucus PAC; Bluegrass Committee; and $1,000 to TOM PAC (Tom Davis, R-Va.).
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The central bank extended the deadline for comments on Regulation O by one month, to Nov. 4.
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The Brazil-based digital bank, which recently launched a U.S. business, submitted an SEC filing to stop the spread of misinformation.
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The bank-owned payments company has been developing an interoperable payments network that will allow banks to clear and settle tokenized deposit transactions. It's targeting an early 2027 launch for the network, and is working toward an atomic future thanks to bank demand.
October 2 -
More states are providing funding to community development financial institutions, which are contending with hostility from the Trump administration and challenges from high interest rates.
October 2 -
Chicago-based Northern Trust has started its search for a new CFO as David Fox plans to retire in March; the American Fintech Council has been appointed as an observer on the Conference of State Bank Supervisors' newly formed nonbank industry advisory; Wells Fargo has hired JPMorganChase investment banker David Harkin to advise on technology deals, and more in this week's banking news roundup.
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A proposal is meant to ensure advisors can trade client assets on a discretionary basis without triggering onerous custody requirements, while also giving them a self-custody option for crypto.
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