AUSTIN, Texas - (08/04/04) -- Rep. Ciro Rodriguez asked a TexasSupreme Court last week to overturn his narrow, 58-vote, loss inthe Democratic primary, based in allegations of vote tampering.Rodriguez, elected seven years ago with heavy credit union support,appeared to win the March primary by 145 votes, but fell behind hischallenger, former Texas Secretary of State Henry Cuellar, after arecount that uncovered more than 200 uncounted ballots. Rodriguezsued, claiming irregularities in the recount, but his charges weredismissed last month by the state's appeals court. The Democraticnominee is almost assured of winning the congressional seat, whichencompasses the San Antonio area, in November's generalelection.
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The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
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The Charleston-based company agreed to pay $267 million to acquire Piedmont Bank in Peachtree Corners, Georgia. It's United's 34th deal, but the first since 2021.
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The Puerto Rico-based company's board of directors has given an additional title to COO Javier Ferrer, naming him president as of May 9. His career path closely resembles that of his boss, CEO Ignacio Alvarez.
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Truist Financial completes the sale of its remaining stake in Truist Insurance Holdings; City National Bank has hired Rick Bechtel as executive vice president and head of mortgage and residential lending; Associated Bank names Chun Schiros as its first chief analytics officer; and more in the weekly banking news roundup.
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Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
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When the Trump tax cuts expire next year, the White House will ask for higher corporate taxes and a buyback tax as Congress enters one of its biggest economic fights of the decade, which will have major implications for bankers.
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