DEARBORN, Mich. - (03/10/06)-- The newly formed National Center forMember Trust is working on a plan to assist DFCU Owners United, thegroup opposing DFCU Financial CU's bid to become a bank, inspreading the word about the value of credit unions. Thegroup¡¦s leader, Bucky Sebastian, president of GTE FCUin Tampa, said he expects to provide assistance to theMichigan-based group within the next 10 days. 'We might be able tohelp them with some pieces in the media, billboards, ads in thenewspaper,' Sebastian told The Credit Union Journal. Sebastian. Hesaid the national group, formed last week at CUNA's GAC has raised$260,000 which they plan to use to promote the value of the creditunion charter. 'This is hopefully a permanent, ongoing effort tokeep the value of the credit union charter in front of the Americanpeople, in front of Congress, bankers, members and the generalpublic,' said Sebastian.
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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
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The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
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At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
April 24 -
Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
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The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
April 24 -
Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
April 24