JEFFERSON CITY - (01/10/05) -- The Department of EconomicDevelopment said Friday it approved a charter for Missouri FarmersUnion CU, the first new state chartered credit union in sevenyears. The new credit union is still awaiting word from NCUA onwhether it will be approved for federal deposit insurance. Thecredit union will begin making small consumer loans but eventuallyplans to make operating loans for the state's farmers.
Two former members of the Federal Open Market Committee said in interviews that they expect the Federal Reserve to keep rates steady amid uncertainty over the ongoing war with Iran and the resulting upward pressure on inflation.
Goldman Sachs Chief Legal Officer Kathryn Ruemmler received an 11% pay hike last year, bringing her total compensation to $25 million; U.S. Bank promoted Toby Clements to chief operations officer; Klarna is expanding its forward-flow and whole-loan sale deal with Elliot Investment Management to $2 billion; and more in this week's banking news roundup.
Carter Bankshares in Martinsville, Va., sold more than $200 million of loans made to companies controlled by Sen. Jim Justice and his family, closing out a once close relationship that later descended into rancor and litigation.
The Federal Deposit Insurance Corp.'s Office of Inspector General said in a Thursday report that staffing cuts over the past year could strain supervision and the agency's response to a crisis.
The latest rise in property tax collections at the end of last year continued a nine-quarter streak of increases, according to the National Association of Home Builders.
American Banker data finds that regulatory clarity is the top ask from executives holding back on adoption planning.
