MARION, Ohio - (03/13/06) Martin Hughes, the well-knownlabor leader and political kingmaker, who ran United Telephone CUfor more than 40 years, died here last Wednesday, at 85. Hughes wasa former international vice president of the Communications Workersof America and president of the Cleveland AFL-CIO, as well aschairman and director of Fahey Banking Co., of Marion. He mobilizedhis union supporters for political campaigns and frequently visitedthe White House as a labor adviser to President Carter. His career,however, took a turn for the worse in the 1980s. Hughes was chargedin federal court with misusing union funds to provide money tocandidates and was convicted in 1987 of falsifying union records.He received two years' probation, a $10,000 fine and a ban on unionactivity. His credit union career, too, was tarnished at the endafter state regulators charged him and his family with using creditunion funds for personal use and took the $15 million credit unionunder conservatorship in 2003. A court, however, overturned theconservatorship and ordered it returned to its members lastyear.
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Kohler Credit Union, Think Bank and Communication Federal Credit Union gave their onboarding and direct deposit tech an upgrade through fintech partnerships.
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To address a budget deficit, the state of Washington has begun taxing credit unions that buy banks. Critics say there's just one problem: The tax will deter any such acquisitions from happening.
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Some distressed companies that tapped the Federal Reserve's Main Street Lending Program say they've been crushed by the agency's hardline stance on modifications.
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Threat group ShinyHunters claimed responsibility for the attack, which reportedly targeted third-party platforms rather than Betterment's own systems.
February 6 -
Artificial intelligence developments are stoking investor fears about software companies. Banks' limited exposure to the sector and general stability is proving attractive to investors.
February 6 -
Prosperity Bancshares finalizes the second of three acquisitions it's announced since July; Sumitomo Mitsui Banking Corporation appoints a new chief information security officer for its American operations; Huntington Bancshares, Third Coast Bancshares and Heritage Financial completed acquisitions; and more in this week's banking news roundup.
February 6





