ATLANTA - (11/06/02) -- The state Republican Party machinethat launched former House Speaker Newt Gingrich to nationalprominence helped frustrate credit union political strategy Tuesdayto retain control of the state's congressional delegation. In twoof the biggest upsets in the country, high Republican turnouthelped boost Rep. Saxby Chambliss over Democratic incumbent MaxCleland in the Senate race; and former state senator Sonny Perdueover Democratic Gov. Roy Barnes, with credit unions on the wrongside of both races. Credit unions backed Cleland and Barnes forreelection, but were also working on behalf of Chambliss and Perduebecause the two also had pro-credit union records, according toCindy Connelly, chief lobbyist for Georgia CU Affiliates. The GOPalso maintained its majority of the House seats, claiming an 8-to-5majority after counting the state's two new districts, up from8-to-3 in the current Congress, despite having the new politicalmap being drawn by the Democratic state legislature. "It looks likethose three new districts the Democrats drew are going to goRepublican," CUNA political director Richard Gose said Tuesdaynight.
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Refinances drove growth of last year's lending activity, with both the volume share and average loan size coming in noticeably higher, according to IEmergent.
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The recent uptick in commercial-and-industrial lending is the result of disruption in the private credit sector, one economist argues. Bank analysts say the upheaval in private credit is one factor among many.
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The president's son has seemingly cut ties with the digital asset fintech ALT5 Sigma, whose shares lost 90% of their value after purchasing the tokens.
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The Consumer Financial Protection Bureau finalized a new version of a small-business lending rule that took 17 years to get over the finish line. Banks are still lobbying for the rule to be repealed.
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New York extracted $5 million and a broker registration from Uphold over its promotion of CredEarn, a yield product whose issuer collapsed in 2020.
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Home affordability declined on a monthly basis across loan types and racial demographics, but improved from a year ago, the Mortgage Bankers Association said.
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