WASHINGTON - (10/25/04) -- A $5,000 contribution to Coloradosenate candidate Ken Salazar; $1,000 for Rep. Mark Foley ofFlorida; $500 for Rep. Mike Doyle of Pennsylvania. CUNA's politicalaction committee has been feverishly doling out campaigncontributions to candidates from Maine to California over the pasttwo weeks--$140,000 to 90 different candidates, all distinguishableby their avowed support for credit unions. "I feel a little likeGeorge Steinbrenner in that Visa commercial," said CUNA politicaldirector Richard Gose, referring to the television ad showing theNew York Yankees owner with an injured hand from writing too manychecks. "We've been spreading it out quite a bit, now that it'sdown to the wire," Gose told The Credit Union Journal. Among thecandidates receiving the maximum allowable $5,000 contribution forthe general election in the past two weeks are: Reps. John Dingell,D-Mich., Carolyn Kilpatrick, D-Mich., Fred Upton, R-Mich., VernonEhlers, R-Mich., and newcomers Thelma Drake, R-Va., and JeffFortenberry, R-Neb. CUNA has made over $2.6 million in campaigncontributions during the current election cycle, including almost$300,000 to 140 candidates over the past six weeks.
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Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
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Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
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Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
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Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
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CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.
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Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.
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