SALT LAKE CITY - (02/09/05) -- The Senate Rules Committee finallybroke a logjam Tuesday on the controversial anti-credit unionresolution and agreed to send the measure to the Senate's Revenueand Taxation Committee for its consideration. The measure, known asHouse Resolution 1, had been held up since passing the House twoweeks ago while lawmakers debated which committee had jurisdiction.The non-binding resolution would call on Congress to intervene inthe decade-old war between banks and credit unions by, among otherthings, allowing states to tax federally chartered credit unions.The issue came to the fore two years ago when a handful of statechartered credit unions dodged proposed legislation to tax them byconverting to the tax-exempt shield of a federalcharter.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
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The Federal Reserve has banned a Wyoming bank employee from the banking industry for embezzling more than $30,000 from a charity.
July 3