Three new seats were added to the CUNA Lending Council executive committee during the most recent elections, which made for a total of five vacancies. Re-elected as chair was Joe Brancucci, VP-lending with BECU in Tukwila, Wash., while Chris Oldag, senior VP-lending for Patelco CU in San Francisco, was re-elected council vice chair. Lloyd Gill, COO and chief lending officer for City County CU in Ft. Lauderdale, Fla. was elected as secretary/treasurer. Also elected to the executive committee were Mark Wilburn, senior VP and chief lending officer for 66 FCU in Bartelsville, Okla.; C. Dana Rawlings, senior VP-lending for Smart Financial CU in Houston; Claire Ippoliti, VP-lending for Philadelphia FCU in Philadelphia; and Shannon Forsyth, VP-sales manager for Air Academy FCU in Colorado Springs, Colo.
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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