HICKORY, N.C. - (08/23/04) -- A unprecedented last-minute handfrom credit unions was not enough of a push for Sheriff DavidHuffman, who lost last week's Republican primary run-off to StateRep. Patrick McHenry by a mere 86 votes. Huffman, who immediatelyasked for a recount, was the recipient of a last-minute $50,000radio ad campaign by CUNA and the North Carolina CU League, as wellas a $5,000 CUNA PAC check, heading into last week's run-off. Thepreliminary vote count found Huffman, a long-time member of theadvisory board for North Carolina Local Government Employees FCU,with 49% of the vote, after leading the pack in the July 20 GOPprimary with 35%, to McHenry's 26%. However, McHenry was able todemand a run-off because neither candidate received 40% of the votein the primary. The $50,000 radio buy was only the third time CUNAand its state leagues have made so-called independent expenditureson behalf of a favored candidate, and the first time in aprimary.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
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St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
September 17 -
The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.
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