LANSING, Mich. - (10/18/04) -- It didn't take long for the MichiganCU League to make amends with congressional favorite John Schwarzfor endorsing Schwarz's primary opponent Clark Bisbee. Officialswith the league met with Schwarz soon after the Republican primaryto explain their support for Bisbee, chief House sponsor of lastyear's credit union reform bill, and walked away with Schwarz'spledge to support the credit union tax exemption and an agreementto work together if Schwarz wins election in this heavilyRepublican district, according to Patrick LaPine, chief lobbyistfor the league. "Lucky for us, we felt all along if John Schwarzended up winning we could work with him," LaPine told The CreditUnion Journal. The political fence-mending was reminiscent of theleague's 2002 make-up with Rep. John Dingell, after the league wasforced to support Dingell's primary opponent Lynn Rivers in theprimary because of her superior record on credit union issues.Schwarz is widely expected to win the state's seventh districtHouse seat, where Republican Nick Smith is retiring after sixterms.
-
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.
1h ago -
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.
5h ago -
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.
6h ago -
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.
6h ago -
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.
7h ago -
State regulator says blockchain tools are key to detecting money laundering and sanctions violations.
7h ago