WHEATRIDGE, Colo. - (08/13/04) -- The credit union lobby is throwingits support this time behind freshman Rep. Robert Beauprez, afterdoing everything they could to defeat the former banker in the 2002elections, in the closest congressional race in the country. JohnDill, the new president of the Colorado CU System, said they haveworked to mend fences and build a relationship with Beauprez, theformer chairman and CEO of Heritage Bank, since his election twoyears ago. "We feel like we have an open door and an open ear withhim" Dill told The Credit Union Journal, adding that Beauprez hadvoted for credit union-backed bills on bankruptcy reform andregulatory relief. Beauprez, who also served as chairman of theColorado Republican Party, bested credit union-backed MichaelFeeley, the former Democratic Senate Minority Leader, in 2002 byjust 121 votes. Beauprez faces Democrat David Thomas, the districtattorney in Jefferson County in November. In the state's biggestrace, the one to succeed Republican Sen. Ben Nighthorse Campbell,the credit union lobby has yet to choose between Republican PeterCoors, heir to the Coors beer family, and Ken Salazar, theDemocratic Attorney General.
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Execs say other banks are still more of a rival for deposits than the digital currency.
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First Northwest Bancorp in Port Angeles has selected an Everett, Washington-based competitor's president to serve as its new top executive.
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The Charlotte-based megabank announced that it had appointed two business leaders to be co-presidents of the bank, and elevated its chief financial officer to serve as executive vice president.
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The Massachusetts bank is being accused of aiding and abetting the operation of a Ponzi scheme centered in Hamilton, New York. The bank declined to comment on the allegations.
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City National Bank promotes Brandon Williams to head private banking and wealth management; a former U.S. Postal Service letter carrier is sentenced to five and a half years for stealing over $10 million in checks from the mail; Lazard expands its North American investment banking franchise with two managing director hires; and more in this week's banking news roundup.
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The government-powered network is allowing larger payments to settle instantly, a move The Clearing House has also made for its RTP network. Payment experts say more than higher limits are needed to make speedy processing ubiquitous.
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