Call centers emerge as more members are willing to do business via the phone, or automated phone system * The California banker's legal challenge to NCUA's chartering authority is assigned to same judge who previously called NCUA a "rogue" federal agency * Ed Baranowski, CEO of Fairwinds FCU, proposes giving up the tax exemption for a truce on FOM * Michael Dusche of Microsoft tells NAFCU Technology Conference that all the discussion surrounding online security is misplaced, noting that no one has ever cracked 48-bit encryption, and certainly not come close to 128 bit * NAFCU rejects any talk of a merger with CUNA * CUNA holds its first elections following Renewal Project. One interesting result: no volunteers were elected to CUNA board, despite that being one goal * Texas CUs finally are permitted to make home equity loans * Bankruptcy reform bill debuts in Congress * CUNA Chairman and Motorola Employees CU-West CEO Pete DiSylvester dies at age 62 * Legislation is proposed to ban ATM surcharges * George LaChappelle of the Michigan league, on hand in 1966 to help build time capsule, is on hand in 1997 to open it. * Kansas CUs charge that Dodge City-based Landmark BancShares is sending $1,000 checks to various CUs seeking to open CDs to prove CUs are illegally opening accounts * The New York Times, in an editorial, criticizes the CU tax exemption * Michigan's CUs roll out a program to teach computer skills to new hires who lack them * NCUA's Asset Liquidation Management Center earns $5.3 million when it sells livestock it had acquired as part of a liquidation * Eight small CUs in Indiana form "Small Credit Union Managers" group, or "SCUM" * Federal Employees CU, whose offices were destroyed in the 1995 Murrah Federal Building bombing in Oklahoma City, breaks ground on a new office * Richmond Savings CU, Canada, creates humorous campaign around "Humungous Bank" theme. One ad reads, "We're not just interested in money. We're interested in people with money." * Alabama's largest newspaper gives front page treatment to a story on ACUL CEO Gary Wolter's pay * 1st Advantage Credit Union hires Howard Stern as a spokesperson * Y2K planning begins.
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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.
4h ago -
The first-quarter increase involved commercial real estate loans, including some problematic multifamily loans and an office credit, but none of the criticized loans were to consumers, officials at the Dallas company say. Further CRE deterioration is anticipated.
5h ago -
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.
5h ago -
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.
6h ago -
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.
7h ago -
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.
8h ago