WASHINGTON - (09/23/05) -- NCUA General Counsel Robert Fennerasked Congress to include the agency's proposal to enact arisk-based capital system for credit unions, which was carefullyexcluded from a regulatory relief bill introduced last month.Fenner, testifying before a House Financial Services subcommittee,said the agency's current system of minimum capital, known asprompt corrective action, is too inflexible and asked the lawmakersconsider including the risk-based system in the Reg Relief bill.Fenner, who was testifying with representatives of other financialregulators, also said NCUA supports proposals to allow federalcredit unions to provide limited services to non-members withintheir fields of membership; and to clarify the definition of networth for credit unions to allow credit unions to continue tocombine their capital after merging, something a new accountingrule will prohibit. House leaders hope to pass the Reg Relief billover the next few weeks, but the bill is dead for the year becausethe Senate has indicated it will not act on its version of RegRelief until next year.
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At a time of mild or nonexistent loan growth, middle-market borrowers in the Lone Star State are providing a boost to Fifth Third Bancorp and Huntington Bancshares.
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New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.
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The Alabama regional lender says it expects expenses to taper off this year and anticipates challenged loans will gradually rise to historically average levels.
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Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
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The Dallas-based regional bank tapped a client for its co-pilot capabilities, where employees can message a bot instead of a human to get tech assistance.
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