BEAVERTON, Ore. - (11/22/04) -- Bearing a tag line, 'Bottom Line:You,' credit unions began a statewide public awareness campaignthat will feature radio and television adds and a websiteexplaining the credit union difference. The CU Association ofOregon raised more than $300,000 from 71 of its 95 credit unionsfor this year's campaign and plans to raise at least as much to runthe ads next year. Participating credit unions are supplementingthe campaign in numerous way: by decorating their lobbies withposters, flyers and signs focusing on the credit union difference.The campaign will focus on explaining the credit union differenceand in helping individuals locate a credit union they are eligibleto join.
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The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
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The first-quarter increase stemmed from higher interest rates, partial charge-offs and certain problem loans, many involving commercial real estate, executives at the Dallas bank say. Further CRE deterioration is anticipated.
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The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
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The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
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Charge-offs and nonperforming loans rose at the Georgia bank in the first quarter. But it blamed the problem on one large client and said the matter has been resolved.
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Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.
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