CUNA will sponsor an "Election Fair" this week on Capitol Hill. Sen. Lindsey Graham (R-SC) and Rep. Mike Michaud (D-ME), who were both supported by credit unions in their 2002 electoral victories, and Charlie Cook of the Cook Political Report will address the 700 credit union participants expected to attend the fair at the Phoenix Park Hotel. Cook will provide a breakdown of potential voter power of credit unions, and offer hints to the credit union participants on how best to tap that power. CUNA said the Election Fair will feature a wide array of displays and "booths" showcasing many of the political and grassroots programs that demonstrate credit unions' resolve to be a complete participant in the political process. "Our aim with the Election Fair is to prepare those who attend to be ambassadors to their fellow credit union leaders who were unable to attend," said CUNA CEO Dan Mica. "Overall, we want to reach out to the average 192,000 credit union members in each congressional district, and get them to vote."
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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
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The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
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At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
April 24 -
Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
April 24 -
The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
April 24 -
Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
April 24