WASHINGTON - (04/26/05) -- The House is expected to vote assoon as Tuesday on a bill to allow federal credit unions to expandlifeline services, like check cashing, money orders and wiretransfers, to non-members within their fields of membership. Butthe provision allowing services to non-members has a long way to gobefore final passage, as it has yet to be introduced in the Senateand is opposed by the banking lobby which sees it as anotherexample of credit unions expanding their reach beyond thetraditional common bond. At least half a dozen states have passedsimilar allowances for state chartered credit unions over the pasttwo years.
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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.
9h ago -
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.
April 24 -
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.
April 24