NEW YORK - (09/04/05) -- From midtown to lower Manhattan, andall points in between, the credit union lobby--CUNA, NAFCU, thestate leagues, and dozens of credit union executiveswereseen darting from reception to reception during the RepublicanNational Convention this week, imprinting the credit union brandamong the GOP faithful. The CUNA team, alone, led by President DanMica and top lobbyists John McKechnie and Gary Kohn, attended morethan 100 events. More than anything, this is really anopportunity to renew relationships and expand relationships andshow our support for the members of Congress who have supported usin the past, Mica told The Credit Union Journal during oneevent. This was a great way to meet with people, many of thesame ones we see in Washington, on a more relaxed basis,said Bill Donovan, chief lobbyist for NAFCU, of the 30 or so eventssponsored by or attended by NAFCU representatives. For CUNA, whichhas been sending a team to the national party conventions foryears, this year marked to a new level of involvement. CUNA and itsaffiliates, including the leagues, and U.S. Central CU, probablyspent as much as $250,000 on Convention activities, and a similaramount on the Democratic Convention, according to Richard Gose,political director for CUNA. It was money well spent,he said.
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Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.
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The application follows on the heels of Circle and Wise, as crypto and payment companies seek crypto custody approval and direct access to the Federal Reserve payment system.
July 2 -
The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.
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Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.
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Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.
July 2 -
A federal judge in New York has rejected Huawei's effort to toss charges alleging bank fraud, sanctions violations and trade secrets theft.
July 2