AUSTIN, Texas - (11/01/04) -- Democratic House members carefullytargeted under the Republican Party's controversial redistrictingplan are running stronger than expected, with several of those onthe GOP's 'Hit List' expected to survive on election day. "TheDemocrats are doing better than (the Republican authors of theplan) thought they would, but I still expect the Republicans to geta net pick-up," of the state's House seats," Buddy Gill, politicaldirector for the Texas CU League, told The Credit Union Journal.Early projections for the redistricting plan had the Democratslosing as many as six of their 17 House seats in Texas, givingRepublicans a majority of the state's 32-member House delegation.But several of the targeted Democrats, including some major creditunion supporters, may survive the attempted purge, said Gill. Thatincludes 13-termer Martin Frost, despite the credit unions' bestefforts to defeat him. Frost, a long-time credit union ally, wasthrown into a race against another strong credit union supporterRepublican Pete Sessions, by the redistricting. The credit unionlobby, forced to choose between two friends, is working hard toelect Sessions, with campaign funding, and volunteers canvassingthe neighborhoods on his behalf, according to Gill. Other Democratsfighting for survival are: Charles Stenholm, Max Sandlin, NickLampson and Chet Edwards.
-
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.
1h ago -
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.
4h ago -
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.
5h ago -
St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
6h ago -
The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.
6h ago -
State regulator says blockchain tools are key to detecting money laundering and sanctions violations.
7h ago