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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The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
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The first-quarter increase involved commercial real estate loans, including some problematic multifamily loans and an office credit, but none of the criticized loans were to consumers, officials at the Dallas company say. Further CRE deterioration is anticipated.
April 18 -
The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
April 18 -
The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
April 18 -
Charge-offs and nonperforming loans rose at the Georgia bank in the first quarter. But it blamed the problem on one large client and said the matter has been resolved.
April 18 -
Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.
April 18