NEW YORK - (08/30/04) -- NAFCU representatives cruised theHudson River Sunday a during a tribute they helped sponsor for Rep.Spencer Bachus, chairman the House Financial Services Subcommitteeon Financial Institutions, before changing their clothes for Sundaynight salute to Senate Banking Chairman Richard Shelby, as theRepublican National Convention kicked off. Down the block, CUNArepresentatives were feting Rep. Bob Ney of Ohio, a major creditunion supporter. NAFCU was also co-sponsor of a Sunday nighttribute to delegates from southern states featuring southern rockband Lynyrd Skynyrd. "We've got a good opportunity to raise theprofile of credit unions and NAFCU this week during theconvention," NAFCU lobbyist Brad Thaler, told The Credit UnionJournal. "We're looking forward to a big week." CUNA was scheduledto introduce its child identification initiative toconvention-goers Monday afternoon at Montauk FCU, a stone's throwfrom the convention. Later this week, officials from both tradegroups, as well as credit union executives from around the country,were expected to participate in events honoring Republicanlawmakers.
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The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.
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The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
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Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
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Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure.
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The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.
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The two regional banks are anticipating that borrower demand will increase in the back half of the year. High interest rates and economic uncertainty have been muting the appetite for borrowing.
April 23