WASHINGTON - (02/22/06) -- CUNA said it contributed a total of$105,000 to the Republican and Democratic parties last month, thetrade association's annual donations to the two parties. Separatechecks of $15,000 each went to the Republican Governor'sAssociation, the National Republican Congressional Committee, theNational Republican Senatorial Committee, the Republican NationalCommittee, as well as the Democratic Congressional CampaignCommittee, Democratic Congressional Campaign Committee andDemocratic Senatorial Campaign Committee. CUNA contributes themaximum $15,000 to each of the committees every year, making atotal of $210,000 going to the groups in the current 2005-2006election cycle. CUNA also made contributions last month to: TheHouse Conservatives Fund, a leadership PAC aimed at electingRepublicans to the House ($5,000); Jeff Lamberti, Republicanpresident of the Iowa Senate, running for the House ($3,000); Rep.Kenny Marchant, R-Texas ($2,500); Rep. Ron Paul, R-Texas ($2,500);Rep. Kevin Brady, R-Texas ($2,500); and Sen. Kay Bailey Hutchison,R-Texas ($2,500), among others.
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The Federal Reserve authorized a bid by Morgan Stanley to incorporate its German investment bank under its U.S. bank subsidiary. Three Biden nominees on the Fed board dissented, citing concerns that the move could heighten risks for the U.S.-based investment banking giant.
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In three separate appearances Thursday, Fed Gov. Lisa Cook, Gov. Michael Barr and Vice Chair Philip Jefferson said they are worried that U.S. involvement in the war with Iran could drive up inflation, leading them to conclude that interest rates should remain steady in the near term.
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Federal Reserve Gov. Stephen Miran on Thursday detailed a plan to reduce the central bank's balance sheet, saying a smaller footprint would reinforce policy boundaries but could also bring more market volatility.
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The Canadian bank laid out its rationale Thursday for opening new branches in California. The objective is to increase density in the Golden State, and subsequently achieve greater market share and higher returns.
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The legislation would grant the Consumer Financial Protection Bureau, among other agencies, more oversight of airline-branded credit cards and rewards schemes.
March 26 -
PayPal, Stripe, Visa and Mastercard must be vigilant against offboarding clients for political or religious reasons, the Federal Trade Commission warned Thursday.
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