DES MOINES, Iowa - (10/29/04) -- With little action in congressionalraces, Iowa credit unions are concentrating their campaign effortson the state legislature, where they successfully fought off a taxbill last year. Credit unions hope to help elect Democrat BobKressig, chairman of the board of John Deere Community CU, to thestate legislature. Credit union volunteers are raising money andwalking the precincts on behalf of Kressig, according to JustinHupfer, lobbyist for the Iowa CU League. The league has contributed$14,000 to Kressig's campaign. If elected, Kressig would be theonly credit union volunteer or executive in the legislature; incontrast to the four bankers in either the House or Senate. "Therealization really came up front after the battle we had with thebanks in 2003 that we really need some credit unions officials inthe legislature," Hupfer told The Credit Union Journal, ofexpectations the tax bill will return. The heated 2003 tax battlehas left its mark in other ways; credit unions are working todefeat State Reps. Brian Quirk co-sponsor of the credit union taxbill; and Gene Manternach, a major supporter of thebill.
-
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.
10h ago -
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.
10h ago -
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.
10h ago -
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.
11h ago -
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