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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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
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The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
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At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
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Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
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The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
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Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
4h ago