HAVERHILL, Mass. - (03/14/06) -- City fathers are looking to creditunions to help them bridge a broadening gap in municipal finances.The city is asking Haverhill Teachers CU and Haverhill MunicipalEmployees CU, which have had free use of rooms in city hall formore than two decades, to pay rent. The effort is being seen bycity officials as one to help bridge a $3.6 million budget gap.Last week, the city council declared the two rooms as surplus,clearing the way for negotiations on lease agreements with the twocredit unions. Officials said continued use of the city hallfacilities could cost each credit union as much as $1,000 amonth.
-
Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
March 20 -
Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
March 20 -
Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
March 20 -
Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
March 20 -
CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.
March 20 -
Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.
March 20











