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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Banking Circle US is the first company to use Connecticut's uninsured bank charter for wholesale and merchant activities. This kind of charter makes sense for payments firms, but questions persist about overall viability.
50m ago -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
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Ant Group's Alipay is linking to Pakistan's NayaPay as part of a push to support tourism to China, Revolut has obtained a license from Mexico's National Banking and Securities Commission, and more.
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Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16 -
The Federal Reserve chair's comments coincide with the spring meeting of the International Monetary Fund and the World Bank Group in Washington. They also come as groups like the Basel Committee on Banking Supervision are being scrutinized.
April 16 -
The Federal Home Loan Bank System stepped up advances by 37% or more to Silicon Valley, Signature and First Republic banks ahead of their failures, the GAO says in a post-mortem on last year's banking crisis. The findings add to the debate about whether the system should be a lender of last resort.
April 16