Jim Updike, CEO of Honda FCU, is planning once again to captain a sailboat in the 58th Annual Lexus Newport to Ensenada race and, in the process, break a record for funds raised for the Children Miracle Network. Last year, Updike helped to raise $12,000 for CMN. Updike's boat has as crew members representatives of a number of credit union vendors, including WesCorp, Creditor's Insurance, Southwest Business Systems, and The Members Group. The race of more than 125 miles has more than 500 vessels participating each year in 20 different classes.
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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.
April 24 -
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.
April 24 -
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.
April 24 -
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.
April 24 -
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.
April 24 -
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.
April 24