WASHINGTON - (03/21/06) Contributions by CUNAspolitical action committee, credit unions largest PAC, werelargely geared towards helping the Texas congressional delegation,the target of an ongoing controversy over redistricting. CUNA madecontributions to candidates in 12 of the states 32congressional districts, including Joe Barton ($1,000); HenryCuellar ($2,000); Al Green ($2,000); Louie Gohmert ($1,000); EddieJohnson ($1,000); Lamar Smith ($1,500); Ruben Hinojosa ($1,000);Chet Edwards ($1,000); Lloyd Doggett ($1,000); Pete Sessions($1,000); Sam Johnson ($2,000); and John Culberson ($2,000).Several of the seats are expected to be closely contested as thefallout from the controversial 2004 redistricting continues intothe 2006 mid-term elections. CUNA also continued reaching out tocongressional leadership by funding their leadership PACs, withcontributions going to: The Blue Dog PAC ($5,000); The New DemocratCoalition PAC ($5,000); Mill to the Hill PAC ($4,000); and theRepublican Opportunity Network PAC ($5,000).
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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