MORGANTON, N.C. - (08/30/04) -- A week after unprecedented creditunion intervention failed to boost the credit union-backedcandidate to victory in the Republican primary run-off, the racefor the state's tenth congressional district took another unusualtwist last week. Democratic Party leaders last week asked theircandidate, Anne Fischer, to withdraw from the race after her homewas foreclosed on by State Employees CU. Fischer said party leadersasked her to resign after learning she lost her home in theforeclosure and she had no job. Federal election rules allow aparty to require a candidate's withdrawal for criminal wrongdoingor financial malfeasance. The move came a week after State Rep.Patrick McHenry bested Sheriff David Huffman in the Republicanprimary run-off, despite an expensive last-minute add campaign byCUNA and the North Carolina CU League on behalf of Huffman, along-time member of the Local Government Employees FCU advisorycommittee.
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The ICBA files a suit to stop the OCC from its charter spree, and the CFTC wants to change the rules to bring prediction markets under its regulatory remit.
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Former bank CEOs David Provost and Chip Reeves assumed control of Parkway Bank on Thursday. They plan to use the $3.7 billion-asset bank as a springboard for organic growth and potential M&A throughout the Midwest.
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The central bank extended the deadline for comments on Regulation O by one month, to Nov. 4.
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The Brazil-based digital bank, which recently launched a U.S. business, submitted an SEC filing to stop the spread of misinformation.
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The bank-owned payments company has been developing an interoperable payments network that will allow banks to clear and settle tokenized deposit transactions. It's targeting an early 2027 launch for the network, and is working toward an atomic future thanks to bank demand.
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More states are providing funding to community development financial institutions, which are contending with hostility from the Trump administration and challenges from high interest rates.
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