CUNA said it contributed a total of $105,000 to the Republican and Democratic parties last month, the trade association's annual donations to the two parties. Separate checks of $15,000 each went to the Republican Governor's Association, the National Republican Congressional Committee, the National Republican Senatorial Committee, the Republican National Committee, as well as the Democratic Congressional Campaign Committee, Democratic Congressional Campaign Committee and Democratic Senatorial Campaign Committee. CUNA contributes the maximum $15,000 to each of the committees every year, making a total of $210,000 going to the groups in the current 2005-2006 election cycle. CUNA also made contributions last month to: The House Conservatives Fund, $5,000; Jeff Lamberti, Republican president of the Iowa Senate, running for the House $3,000; Rep. Kenny Marchant, (R-TX), $2,500; Rep. Ron Paul, (R-TX), $2,500; Rep. Kevin Brady (R-TX) $2,500, and Sen. Kay Bailey Hutchison, (R-TX), $2,500, among others.
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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.
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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.
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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.
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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.
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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.
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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.
9h ago