DENVER - (10/25/04) -- The Colorado CU System has made anunusual endorsement in the race for the state's third congressionaldistrict--they have decided to endorse both candidates, less theyoffend either one who may represent the district in the nextCongress. Both Democrat John Salazar (Guadalupe Parish CU) andRepublican Greg Walcher (Western Rockies FCU) are long-time creditunion members and support credit unions on the issues, according toTerri Johnson, spokesman for the league. "We're in the business ofmaking friends, not enemies," Johnson told The Credit UnionJournal, of the league's election guide touting both opponents.Florida credit unions had a similar dilemma choosing betweenDemocrat Betty Castor and Republican Mel Martinez for Senate, sothey too are backing both. "We feel both candidates are very strongsupporters of credit unions, so credit unions are going to bewinners, no matter which one comes out on top," said Mark Ivestor,spokesman for the Florida CU League. Both the league and its creditunion members have participated in fundraising events for bothopponents.
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Noninterest income at the Minneapolis-based company jumped more than 10% while asset quality improved and expenses held steady.
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The bank technology company has released Smart Basket, which uses emerging artificial intelligence to improve transaction routing, a strategy that's quickly becoming table stakes for fintechs and financial institutions that offer payments.
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The Canadian bank plans to sell the branches, which are mostly in the Midwest and Great Plains, to First Citizens Bank in North Carolina. At the same time, it plans to build 150 branches over the next five years in markets with longer-term growth prospects.
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Bank of New York Mellon recorded another quarter of higher-than-expected revenue and earnings. Revenue for the third quarter rose 9% year over year, while earnings per share beat Wall Street's forecast by 12 cents.
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During cybersecurity awareness month (October), financial institutions have ramped up education on phishing, fraud and cyber hygiene. Here's what they're saying.
October 15 -
PNC CEO Bill Demchak said Wednesday that regulatory processes and enforcement actions take up half of the time that the company's board spends together. Those rules are on deck for a makeover.
October 15