There was a man dressed in an Indiana Jones costume cracking an eight-foot leather whip as House Minority Whip Steny Hoyer of Maryland arrived at the CUNA-sponsored reception for the Democratic "Whips" in the House and Senate. A man in an Egyptian-style red fez handed out token "treasure" as Democratic pols, their staff, and lobbyists climbed a red carpet into Boston's Museum of Fine Arts to honor Hoyer and Sen. Harry Reid of Nevada, both responsible for "whipping" their colleagues into line on legislative battles. Invited guests were given nametags attached by miniature leather whips then offered chicken-mousse and pistachio-stuffed date canap?s as they climbed the stairs to the promenade where they were greeted by an 11-piece orchestra and a five-piece rock band. Later on in the reception, cosponsored by CUNA, Fannie Mae, Sallie Mae, Ernst & Young, BellSouth and the National Association of Homebuilders, attendees were treated to performances by well-known music stars while they munched on refreshments under masterpieces by Van Dyk, Rubens and Valasquez.
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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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The Government Accountability Office was tasked with investigating the Consumer Financial Protection Bureau's stop-work order, but CFPB officials refused to meet with or provide information to Congress' investigative arm.
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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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