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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Andrew Foster, the bank's chief data officer, explained how he has been instilling data discipline across the organization and making the bank's data AI-ready.
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The Office of the Comptroller of the Currency will announce Senior staffers overseeing large, regional and community banks early next month, apparently reversing the unified approach to supervision it implemented earlier in the year.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
September 17 -
The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
September 17 -
Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
September 17