WILLIAMSTON, N.C. - (11/05/04) -- George Butterfield won election tothe state's first congressional district Tuesday--just three monthsafter winning the seat in a special election. In fact, Tuesday'selection was the third in four months for the credit union-backedButterfield, who was elected in a special election in July afterincumbent Frank Balance retired unexpectedly, and won theDemocratic primary on that same day. Butterfield, a long-timemember of North Carolina State Employees CU who was supported witha maximum $10,000 campaign contribution from CUNA, beat RepublicanGreg Dority in both the special and regular elections.
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Federal Reserve Vice Chair for Supervision Michelle Bowman played down the significance of Kraken Financial receiving a master account, saying the central bank is treating it as a pilot program.
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Glen Herrick, a veteran bank director, penned a resignation letter criticizing the West Virginia company's executive-compensation policies and what he described as a failure to focus on core profitability.
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With an application for a U.S. bank charter, the global super app provider aims to expand its offerings and compete with established domestic challengers.
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Panelists at a JPMorganChase webinar said oil shipping security is shaky, creating risk of a new wave of inflation that would impact energy finance. Other analysts said the war will create pressure for some parts of the payments industry.
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The bank exited the $1.95-trillion asset cap last year, but it had remained subject to the rest of the eight-year-old order.
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While this only shows a 2-basis-point rise in the 30-year fixed since last week, the Lender Price product and pricing engine data is 30 basis points higher.
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