WASHINGTON - (10/21/05) -- CUNA said its political actioncommittee, which has become the third most fertile among Washingtontrade associations, had its busiest month of year in September,with 98 campaign contributions for $170,000. The leading creditunion PAC continued to target influential leaders of the House andSenate with four more contributions of $1,000 each to so-calledleadership PACs: The Hawkeye PAC (Sen. Charles Grassley, R-Iowa,chairman of the Senate Budget Committee); Searchlight LeadershipFund (Senate Minority Leader Harry Reid, D-Nev.); United Our StatesPAC (Sen. Joseph Biden, D-Del.) And Alliance for the West (Sen.Larry Craig, R-Idaho). The biggest contributions last month wentto: Rep. Steve Chabot, R-Ohio ($9,000); Sen. Robert Byrd, D-W.V.($5,000)); Rep. Carolyn Maloney, D-N.Y. ($5,000); Rep. BernardSanders, Independent-Vt., running for the Senate ($4,500); Rep.Brad Sherman D-Calif. ($4,000); Rep. Joseph Baca, D-Calif.($4,000); and Rep. Rob Simmons, R-Ct. ($4,000). Also gettingcampaign contributions from the credit union PAC were the followingcandidates running for open seats: Peter Roskam, R-Ill. ($5,000);John Campbell, R-Calif.($5,000); Brad Ellsworth, D-Ind. ($5,000);Mike Sodrel, R-Ind. ($3,500); John Gard, R-Wis.($3,000).
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Earlier in the day, Fed Gov. Stephen Miran chastised the Fed for wading into politics under the Biden administration, as he currently takes unpaid leave from President Donald Trump's top advisory council.
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CEO Chris Gorman applauded what he sees as a transformation of bank regulation since President Trump took office. He described a shift from layers of exams and documentation to a streamlined focus on liquidity, capital and earnings.
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Zions Bancorp. is among the latest banks to report material losses due to alleged borrower fraud. Stocks of regional lenders plunged on Thursday.
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Merchants alleged the major card networks illegally conspired to shift fraud liability onto them with the adoption of EMV chip technology.
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The Buffalo-based bank said Thursday that the paring of its CRE loan book, which has nearly halved in volume over the last three years, may be near its inflection point.
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The BNPL lender is launching a three-day shopping event that pushes 0% financing offers to draw more consumers into the app and increase sales volumes for merchants ahead of the holiday season.
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