WASHINGTON - (08/25/05) After months of nervous waiting,defense credit unions now know whose mission will continue and whoneeds to get busy making plans following final decisions being madeon base closures. A Pentagon panel reviewing recommendations madeby the Base Realignment and Closure (BRAC) Commission has votedagainst plans to close the Portsmouth shipyard in Kittery, Maine,Submarine Base New London in Connecticut, Naval Support ActivityCorona in California, the Red River Army Depot in Texas and NavalSupport Activity in New Orleans. Major bases that will be closinginclude Fort Gillem and Fort McPherson in Georgia, Fort Monroe inVirginia, Army Garrison Selfridge in Michigan and Fort Monmouth inNew Jersey. Several hundred Navy Reserve, Army Reserve and NationalGuard facilities across more than a dozen states are also to close.President Bush can still make changes, as can Congress, althoughCongress has note made changes to BRAC recommendations in thepast.
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The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.
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The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
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Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
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Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure.
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The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.
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The two regional banks are anticipating that borrower demand will increase in the back half of the year. High interest rates and economic uncertainty have been muting the appetite for borrowing.
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