LOS ANGELES - (11/06/02) -- Labor attorney Linda Sanchez waselected Tuesday to the House where she will join her sister,three-term Rep. Loretta Sanchez; the two Mexican-Americans becomingthe first sisters ever to serve in the House together. Credit unions threw their support behind Linda Sanchez, a newcomerto national politics, after opposing her in the Democratic primary,and helped Loretta Sanchez, also a Democrat, get elected toCongress in 1996. The history-making Sanchez sisters will be joinedin the House by two Republican Cuban-American brothers representingdistricts on the other side of the country, as Florida statesenator Mario Diaz-Balart was elected to join his brother LincolnDiaz-Balart, reelected Tuesday to a sixth term. The Diaz-Balarts,both elected with credit union help, will be the first brothers toserve in the House together in more than a century. "Mario's a goodguy. He helped us out when he was in the legislature," AlettaShutes, chief lobbyist for the Florida CU League, told The CreditUnion Journal.
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The auto lender's earnings outpaced Wall Street's expectations. But shrinking car inventories at dealerships, which stemmed from new tariffs, put a dent in Ally's lending.
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The Columbus, Ohio-based regional bank also benefited from strong performances by several legacy business lines, including auto, mortgages and SBA lending.
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The Dallas-based lender, which reported a year-over-year decline in earnings, is anticipating increased loan activity and deposit growth later in the year.
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With the passage of the bill, large banks are looking into their own stablecoins or partnering with the sector, while concerns linger about state regulation, the separation of banking and commerce and the disintermediation of the banking system.
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The regional bank's cloud-based software platform will be one of the first of its kind, a top executive said Friday.
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The banking subsidiary of Western Alliance Bancorporation is discarding six brand names to unify under the Western Alliance Bank moniker; longtime JPMorgan advisor Vishal Idnani will join Western Alliance as its next CFO; First Community in Lexington, South Carolina, will acquire Signature Bank of Georgia; and more in this week's banking news roundup.
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