HARAHAN, Louis. - (08/29/05) Credit unions in Louisiana and the GulfCoast are closed this morning as category 4 Hurricane Katrinastrikes the area in what is becoming an unfortunately regularevent. The Louisiana Credit Union League has closed its officetoday and likely tomorrow, and the shared branching network isclosed as well. Meanwhile, the Florida counties of Miami-Dade,Broward and Palm Beach, where Hurricane Katrina struck earlier butin weaker form, were reporting little damage. Florida leaguespokesperson Mark Ivester said the league had activated itsemergency phone contact system, which allows credit unions tomaintain contact with their members and employees, but the systemwas not needed.
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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
8h ago -
The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
8h ago -
At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
8h ago -
Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
10h ago -
The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
11h ago -
Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
April 24