BOSTON - (07/30/04) New England lobster,traditionally reserved here for a special celebration, was servedto party faithful and aligned interest groups at Thursdaynights prime event at the Democratic National Convention, areception sponsored by CUNA and the Massachusetts CU League for theDemocratic ticket. Last nights credit union reception wasthe first attended by John Kerry and John Edwards followingKerrys keynote address and acceptance of the partyspresidential nomination an hour before. Dan Egan, president of theMassachusetts league, said he was thrilled to see the DemocraticConvention in Boston; the home of American democracy, and of thecredit union movement, he noted. Boston is the natural placefor the Democratic Convention, Egan told The Credit UnionJournal, during one of this weeks many events.Its both the birthplace of democracy and of creditunions, referring to the home of Edward Filene, the Bostondepartment store magnate largely credited with sponsoring thecredit union movement.
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A housing bill that already passed the Senate cleared the House Monday evening, but included bipartisan community banking provisions that have already raised objections in the upper chamber.
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Fifteen banks have failed since November 2019, with the most recent one occurring on Jan. 30.
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Federal Reserve Gov. Christopher Waller said comments from banks and fintech firms reveal sharply different priorities in the creation of the central bank's proposed "skinny" master accounts.
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Check fraud has risen 385% since the pandemic, with criminals using stolen mail and digital tools to deceive major financial institutions.
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The activist investor HoldCo Asset Management said Monday that it doesn't plan to pursue proxy battles this spring at either Key or Eastern. It had been agitating publicly over the banks' M&A strategies.
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