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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A housing bill that already passed the Senate cleared the House Monday evening, but included bipartisan community banking provisions that have already raised objections in the upper chamber.
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Fifteen banks have failed since November 2019, with the most recent one occurring on Jan. 30.
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The Government Accountability Office was tasked with investigating the Consumer Financial Protection Bureau's stop-work order, but CFPB officials refused to meet with or provide information to Congress' investigative arm.
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Federal Reserve Gov. Christopher Waller said comments from banks and fintech firms reveal sharply different priorities in the creation of the central bank's proposed "skinny" master accounts.
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Check fraud has risen 385% since the pandemic, with criminals using stolen mail and digital tools to deceive major financial institutions.
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The activist investor HoldCo Asset Management said Monday that it doesn't plan to pursue proxy battles this spring at either Key or Eastern. It had been agitating publicly over the banks' M&A strategies.
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