WASHINGTON - (09/23/0) -- Maine Congressman Michael Michaud,the only credit union volunteer serving in Congress, urged morethan 300 credit union executives Wednesday to make their voicesheard to his congressional colleagues during CUNA's 'Hike the HillMonth'. "With just six weeks to go before the elections, now is theopportunity to make the credit union voices heard and now is thecrucial time to get involved back home," said Michaud, a directorat EastMill FCU, during an Election Fair sponsored by CUNA onCapitol Hill. South Carolina Senator Lindsey Graham urged creditunion executives to remain "community oriented" and "communityactive" and "never stop coming up here in droves," said thefreshman senator. As many as 800 credit union executives fromalmost 40 states blanketed Capitol Hill this week to counter thebankers' lobbying for repeal of the credit union tax exemption. Asmany as 1,200 executives are expected to visit their congressmenduring the month as part of the nationwide lobbyingeffort.
-
The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
April 24 -
The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
April 24 -
At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
April 24 -
Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
April 24 -
The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
April 24 -
Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
April 24