SAN FRANCISCO - (09/27/05) - In an usual broadside, top CUNAexecutives criticized by name Harris Simmons, the Utah banker whois scheduled to be named chairman of the American BankersAssociation at the group's annual conference Tuesday. Under Simmonsguardianship at the bankers' group, "attacks on credit unions willonly intensify," said outgoing CUNA Chairman Dick Ensweiler duringCUNA's annual meeting Monday, who referred to the head of ZionsBancorp as the 'most rabid anti-credit unionist." "Nobody inAmerica," said CUNA President Dan Mica, "is more committed tochanging the way credit unions operates Harris Simmons." Mica saidSimmons, a long-time credit union foe, is already meeting withother banking groups to plot legislative attacks. As a result, saidMica, "next year will be our biggest challenge." Simmons has beenleading the Utah bankers' opposition to credit unions for more thana decade, succeeding in convincing the state legislature to reignin field of membership powers and to launch an unsuccessful effortto enact tax on state charters, forcing all of the state's biggestcredit unions to convert to the tax-exempt shield of the federalcharter.
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The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.
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The Wyoming-based digital asset bank filed paperwork to challenge last month's district court ruling, which affirmed the Federal Reserve's view about its discretion over master account applications.
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The former head of the Consumer Financial Protection Bureau resigned Friday after the troubled rollout of the Free Application for Federal Student Aid led some House Republicans to call for his resignation.
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The San Antonio-based bank said that loan growth, fueled in part by its expansion in key Texas markets, may compensate for pressure on deposits. It slashed the number of rate cuts it expects this year from five to two.
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Mississippi's Renasant names its next CEO; environmental fintech Aspiration Partners spins out its consumer brand; the OCC adds five weeks to comment period for Capital One-Discover merger; and more in the weekly banking news roundup.
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The Wisconsin banking company forecasted loan growth of 4% to 6% for the full year, driven by an expansion into new commercial and consumer credit lines as well as enduring economic strength in the Midwest.
April 26