CHICAGO - (08/26/05) Illinois Lt. Gov. Pat Quinn, who hasbeen active in chartering several credit unions, called on creditunions across the country to make sure their low-income members areaware of the earned income tax credit. There are many peoplewho are eligible for up to $4,000 and the family doesnt knowabout it, he told NASCUS annual meeting here. Quinnsaid he also would like to see more states duplicate aYellow Ribbon Program in place in Illinois, and sinceduplicated in 21 other states, aimed at helping servicemenreturning from Iraq and Afghanistan to get back on theirfeet. The state-funded program gives anyone from Illinoiswho is called to active duty a grant on behalf of the peopleof Illinois for the service they are providing us. InIllinois to date more than $3 million in grants have beendistributed to more than 6,000 families. Each person gets a basicgrant of $500 for each deployment, and under some circumstancessome get more.
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Beth Johnson, a self-described math geek, is driving the bank's ESG strategy and training its employees to keep pace with industry trends.
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The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
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The first-quarter increase involved commercial real estate loans, including some problematic multifamily loans and an office credit, but none of the criticized loans were to consumers, officials at the Dallas company say. Further CRE deterioration is anticipated.
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The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
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The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
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Charge-offs and nonperforming loans rose at the Georgia bank in the first quarter. But it blamed the problem on one large client and said the matter has been resolved.
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