WASHINGTON - (06/20/06) CUNA reported Monday itspolitical action committee raised $182,000 last month anddistributed $115,000, leaving it with $582,000 as the two-yearcongressional election cycle enters its fourth quarter. Among thecontributions last month was $5,000 going to Independent VermontRep. Bernard Sanders, making the maximum $10,000 contributed to theSenate campaign of the only avowed Socialist in Congress. CUNA alsocontributed $5,000 to the campaign of Democratic State Sen. PeterWelch to fill Sanders place in Vermonts only Houseseat. CUNA also contributed $5,000 to another potentialcongressional newcomer, Republican State Sen. Jim Jordan, who isrunning for the states fourth district House seat. Otherlarge contributions last month went to: Reps. John Dingell, D-Mich.($5,000); Carolyn Kilpatrick, D-Mich. ($5,000); Vern Ehlers,R-Mich. ($5,000); Vic Snyder, D-Ark. ($5,000); Jerry Weller, R-Ill.($5,000) and Sen. Daniel Akaka, D-Hawaii ($4,500).
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The combination of two Pacific Northwest banks was supposed to create a regional powerhouse, but rising deposit costs have stung. CEO Clint Stein says he's "laser-focused" on making Columbia a top performer again.
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A set of panels discussing minority depository institutions and digitization found that cost is a significant challenge to minority depository institutions, especially in the core processing space.
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The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency issued a 30-page guidebook on managing affiliate risks. The report builds on formal guidance issued last year.
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The efforts, which respond to President Biden's October executive order on AI, aim to improve synthetic content detection and improve the trustworthiness of AI models.
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Tighter merchant connections between Square and Cash App helped Block produce stronger-than-expected results during the first quarter, while Jack Dorsey said the firm will launch its first remittance product later this year leveraging decentralized finance.
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In talks with OCC officials, "it became obvious that we would not gain near-term approval given their recent experience with multifamily and CRE positions," FirstSun CEO Neal Arnold says. The companies announced other revisions to their deal, too.
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