Defense credit unions were told to brace for another round of base closures beginning in 2005. Credit unions that serve military FOMs had thought the closures might be pushed back two years as is proposed in a House bill, but were told during a Defense CU Summit at NAFCU's annual convention here that the Senate is likely to proceed on schedule. The difference must be worked out in conference, but NAFCU CEO Fred Becker and Defense CU Council President Arty Arteaga said a two-year delay would likely draw a White House veto, meaning closures will begin in 2005. A Washington lobbyist who focuses on defense matters and who is also a member of Navy FCU's board, said delays would only create more paperwork for defense credit unions.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3 -
The Federal Reserve has banned a Wyoming bank employee from the banking industry for embezzling more than $30,000 from a charity.
July 3