NEW ORLEANS - (12/06/04) -- NAFCU-backed Republican candidateCharles Boustany topped Democratic State Sen. Willie Landry Mount,the CUNA-backed candidate, in Saturday's run-off election for thestate's seventh House District, one of the two final congressionalelections in the country. The race represented one of the few timesthe two credit union lobby groups backed opposing candidates. Alsowinning election to Louisiana's House delegation Saturday wasDemocratic Charles Melancon, who bested 31-year-old Republican BillTauzin III, son of 12-term Rep. Bill Tauzin Jr., who is retirng tobecome a lobbyist. The two run-off elections were required understate law because no candidate received a majority of votes on Nov.2.
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Powered by younger, affluent cardholders, American Express saw a 6% increase in billed business during the first quarter, while weak growth still plagues its small-business segment.
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For the better part of the past decade, the Federal Reserve Board in Washington has played a more active role in presidential searches by regional reserve banks. The shift seems to have made the system more diverse, but some argue it's at the expense of regional bank independence.
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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.
April 18 -
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.
April 18