VANCOUVER, Wash. -- The board of Columbia CU agreed last week to indefinitely postpone its annual meeting scheduled for later this month while it reviews last week's appeals court ruling in a case brought challenging its ill-fated conversion to mutual savings bank three years ago. The state appeals court dismissed most of the challenges brought by dissident members of the $720 million credit union, but revived a debate over the board's term limits, and sent the matter back to the lower court for a hearing. The term limits issue could affect one incumbent running in the 30-day elections that are scheduled to culminate at the annual meeting. The dissident group, Save Columbia CU, had asserted that at least four incumbent members of the 2004 board were disqualified from running for reelection because of nine-year term limits bylaw they approved in 1999. But the directors claimed the terms limits only took affect when the bylaw was approved, and all terms served before then did not count against the limits.
-
A team of ex-First Republic private bankers hopes to serve entrepreneurs who once worked with Silicon Valley Bank.
4h ago -
The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.
5h ago -
In a joint letter signed by over 50 bank trade groups, leaders in the banking industry urged regulators to revise bank regulatory thresholds upward to keep up with inflation.
6h ago - Yahoo Finance Feed
Dime Community Bancshares, which has added dozens of bankers over the past two years, is now ready to consider expanding its geography.
6h ago -
The conviction of a fraud ring mastermind highlights growing risks in home equity lines of credit as equity-rich borrowers become prime targets.
6h ago -
The Senate passed President Trump's tax and spending bill Tuesday, but questions around Consumer Financial Protection Bureau funding, 1071 delay and remittance taxes remain as GOP leaders scramble to pass the bill out of the House before Trump's July 4 deadline.
6h ago