WASHINGTON -- CUNA extended its independent campaign expenditures for next week's primaries to unprecedented levels, with additional spending on behalf of embattled Democratic Sen. Joe Lieberman, and Republican House candidate Jeff Crank, of Colorado. CUNA reported Monday it is spending another $29,099 on direct mail pamphlets boosting Lieberman, making a total of $116,396 spent over the past week to prop up the three-term Senator, who is in a tough battle in the August 8 Democratic primary against anti-Iraqi war candidate Ned Lamont. The trade group also said Monday it is spending an additional $43,346 on direct mailing in support of Crank, vice president of the Chamber of Commerce, and a former staffer for retiring Rep. Joel Hefley, who Crank hopes to succeed in Congress. CUNA spent $107,057 on TV and radio ads for Crank last week. The $169,799 spent by CUNA the last six days on independent expenditures for the two candidates is a new high for the credit union trade association. Independent expenditures may not be coordinated with a candidate.
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The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
April 18 -
The first-quarter increase involved commercial real estate loans, including some problematic multifamily loans and an office credit, but none of the criticized loans were to consumers, officials at the Dallas company say. Further CRE deterioration is anticipated.
April 18 -
The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
April 18 -
The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
April 18 -
Charge-offs and nonperforming loans rose at the Georgia bank in the first quarter. But it blamed the problem on one large client and said the matter has been resolved.
April 18 -
Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.
April 18