TORONTO - (07/14/06) -- Credit unions as Super Heroes?Thats what NAFCU President Fred Becker posited before heripped off his shirt and tie to reveal a Spiderman costume duringhis groups 39th annual convention Thursday. Why Spiderman?Thats because hes a regular guy, doing great thingsfor average people, said Becker during his keynote address to theconvention's 2,000 attendees. And like Spiderman, credit unions areable to rescue citizens from villainous banks, protect them frompredatory lenders, and serve the needs of all Americans. Beckeralso departed from his usual approach and urged the gathered creditunion executives to step out and take some risk on theircommunities and on needy members. Our primary focus shouldalways be our members, and helping others become membersnotour CAMEL ratings, said Becker. But I believe that wecan strike a balanceand like Peter Parker (Spiderman's alterego)be Super Heroeseven though were justregular people.
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JPMorganChase and Bank of America raised concerns about the proposed removal of risk-weighted assets from the denominator of the short-term wholesale funding component of the GSIB surcharge — changes backed by Goldman Sachs and Morgan Stanley.
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House Speaker Mike Johnson, R-La., reportedly plans to send the recently passed housing bill to the White House on Monday, starting a 10-day clock for the president to sign the bill.
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The global payments platform, which recently expanded to the U.S., also plans to build new autonomous finance and agentic commerce products.
June 26 -
A new lawsuit seeking class-action status alleges that FirstBank Puerto Rico knowingly facilitated Jeffrey Epstein's sex trafficking operation by failing to enforce basic anti-money-laundering and know-your-customer rules.
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Pinnacle Financial Partners' headquarters is moving to a new 25-story office tower in Midtown Atlanta; New Jersey-based Provident Bank appoints Adriano Duarte to succeed Thomas Lyons as chief financial officer; Binance will shut down services for customers in France, Italy, Spain and Poland after the exchange withdrew its MiCA licence application in Greece; and more in this week's banking news roundup.
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The bank is part of a trend of financial institutions trying to streamline a complicated industry that paper has dominated for years.
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