The Irish League of Credit Unions reported that it closed 2004 with 40% of the country's adult population holding savings accounts at Ireland's CUs, and 54% having loans. "That has to be the highest penetration of any credit union movement in the world," said CEO Liam O'Dwyer. The average interest rate paid on credit union loans during 2004 was 8.8%.
After passing the Federal Reserve's stress tests with high marks, large banks announced dividend increases. In some cases, they also said the Fed had conceded that certain prior calculations needed to be revised.
A team of ex-First Republic private bankers hopes to serve entrepreneurs who once worked with Silicon Valley Bank.
The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.
In a joint letter signed by over 50 bank trade groups, leaders in the banking industry urged regulators to revise bank regulatory thresholds upward to keep up with inflation.
Dime Community Bancshares, which has added dozens of bankers over the past two years, is now ready to consider expanding its geography.
The conviction of a fraud ring mastermind highlights growing risks in home equity lines of credit as equity-rich borrowers become prime targets.
