WASHINGTON - (03/22/05) -- The California CU League saidTuesday it has hired Ryan Donovan, former chief of staff for creditunion champion Brad Sherman of California and a former assistant toex-House Democratic Leader Richard Gephardt, as its Washingtonlobbyist. Donovan, will be the Capital representative for theCalifornia league's lobbying team. While the California league isthe first state league to hire a full-time Washington lobbyist, itwill continue to coordinate its legislative advocacy with CUNA andthe other state leagues. Donovan will report to Bob Arnould, whowas appointed to head the league's joint state and federal lobbyingoffice under last year's reorganization.
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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.
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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.
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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.
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Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
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The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
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Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
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