MIDLAND, Mich. - (01/16/06) Dow Chemical Employees CU saidit paid members a total payout of $4.6 million for 2005, comprisedof interest rebates, saver and check card incentives. The $950million credit union, one of the few still paying interest rebates,returned more than $3 million in interest rebates of 15% for 2005,up from the 12.5% rebates paid for 2004. Members in good standingalso received a 10% member saver reward, whichtotaled $1.5 million for 2005. And Visa check card holders sharedan additional $86,000 based on their transactions amounts. DowChemical Employees had paid an interest rebate for 49 of the past50 years.
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The company, formerly known as LendingClub, moved from NYSE to Nasdaq as it officially launched its new name as a full-fledged digital bank.
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Critics of the OCC's broad preemption stance say the OCC is resurrecting an approach Congress curtailed after the financial crisis, setting up another Supreme Court test over the balance between federal banking powers and state consumer protections.
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Keweenaw Financial plans to acquire neighboring Range Financial in a transaction that would create an institution with nearly $1.7 billion of assets.
June 24 -
In 2024, a Honduras-born man who was buying a motorcycle was turned down for a loan. Two years later, Truist Financial is facing a discrimination lawsuit — and the plaintiff's lawyer says many lenders are vulnerable to the same accusations.
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The nation's largest banks saw their aggregate capital levels decline the least since the stress testing regime was reformed in 2020. Even so, the Fed will keep stress capital buffers unchanged as it weighs structural changes to its annual capital test.
June 24 -
The Atlanta-based parent company of Ameris Bank plans to open a commercial banking office in Tennessee's largest city by the end of the year, as part of its organic growth strategy.
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