U.S. Central Credit Union reported that net income for the second quarter totaled $22.7 million, compared to $9.3 million from the second quarter of 2004. Total assets were $34.3 billion at the end of the second quarter 2005, down from the second quarter of 2004 when assets were at $38.2 billion. U.S. Central said it saw significant growth in loans, with average loans per day during the second quarter 2005 at $775 million, compared to $450 million during the same time last year. "The second quarter brought in some remarkable loan volumes," said David Dickens, interim CEO of U.S. Central. "We had several days where loan volumes exceeded $2 billion...We are seeing liquidity needs that are beginning to exceed normal seasonal trends."
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A team of ex-First Republic private bankers hopes to serve entrepreneurs who once worked with Silicon Valley Bank.
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The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.
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In a joint letter signed by over 50 bank trade groups, leaders in the banking industry urged regulators to revise bank regulatory thresholds upward to keep up with inflation.
July 1 - Yahoo Finance Feed
Dime Community Bancshares, which has added dozens of bankers over the past two years, is now ready to consider expanding its geography.
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The conviction of a fraud ring mastermind highlights growing risks in home equity lines of credit as equity-rich borrowers become prime targets.
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The Senate passed President Trump's tax and spending bill Tuesday, but questions around Consumer Financial Protection Bureau funding, 1071 delay and remittance taxes remain as GOP leaders scramble to pass the bill out of the House before Trump's July 4 deadline.
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