WASHINGTON - (06/20/05) -- CUNA keeps pitching in to help theembattled House Majority Leader Tom DeLay of Texas with financialsupport. The credit union lobby group, which has developed closeties with the Republican leader over the past three Congresses,contributed $5,000 to DeLay's leadership PAC, known as Americansfor a Republican Majority, or ARMPAC, last month, as DeLay's legalexpenses keep mounting in connection with his investigations by theHouse Ethics Committee and Texas authorities probing DeLay'sinvolvement in a scandal involving the redistricting of Housedistricts in Texas. Since 2000, when he was House Majority Whip,DeLay has become one of CUNA's favored lawmakers, with CUNAcontributing the maximum $10,000 to DeLay's personal campaign eachof the last three elections, as well as almost $20,000 to ARMPAC,and as much as $20,000 to DeLay's annual charity golf outing. CUNAhas already contributed the maximum allowable $5,000 to bothDelay's primary campaign and $5,000 to his general electioncampaign this year, more than 12 months before the primary. DeLayhas become a firm credit union supporter, helping to push thecredit union-backed bankruptcy reform bill to a final vote andlending support on other issues.
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Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
March 20 -
Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
March 20 -
Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
March 20 -
Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
March 20 -
CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.
March 20 -
Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.
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