WASHINGTON - (07/28/06) -- The Senate last Wednesday nightconfirmed former NCUA Board member Geoff Bacino to the FederalHousing Finance Board, the regulator for the nation's 12 FederalHome Loan Banks. The long-time credit union figure was confirmedalong with Frederic Mishkin, to the Federal Reserve Board, EdmundMoy as director of the U.S. Mint, and three nominees to theExport-Import Bank. Bacino, currently an executive with CENTRIXFinancial, was among the founders of Callahan & Associates, andformerly served as head of the National Association of StateChartered CUs and of the National Association of Share InsuranceCorporation. The FHLB system has become increasingly important as asource of mortgage funding for credit unions, with more than 1,000credit unions now part of the system.
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The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
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The Charleston-based company agreed to pay $267 million to acquire Piedmont Bank in Peachtree Corners, Georgia. It's United's 34th deal, but the first since 2021.
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When the Trump tax cuts expire next year, the White House will ask for higher corporate taxes and a buyback tax as Congress enters one of its biggest economic fights of the decade, which will have major implications for bankers.
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