After stagnating a few years after the campaign for HR 1151, NAFCU has grown its political action committee to once again become the second largest among credit unions. NAFCU's PAC, which had fallen behind several PACs run by state credit union leagues in the past two election cycles, is on pace to more than triple its campaign contributions this election from the $129,000 it made in the 2001-2002 election cycle. The PAC made a total of $321,000 in contributions through Oct. 9 and had $125,000 of cash available going into the final weeks of the elections. This elections the PAC has also made contributions for the first time to candidates for open seats and to leadership PACs operated by top congressional leaders. So far, NAFCU has contributed the maximum $10,000 per election cycle to three candidates, Reps. Paul Kanjorski (D-PA), Steve LaTourette (R-OH), and Spencer Bachus (R-AL).
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The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.
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The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
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Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
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Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure.
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The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.
April 23 -
The two regional banks are anticipating that borrower demand will increase in the back half of the year. High interest rates and economic uncertainty have been muting the appetite for borrowing.
April 23