BATON ROUGE, La. – Pelican State CU paid its members a special dividend of $300,000, just in time for the holidays.
The special dividend was calculated by adding up dividends earned on all deposit accounts (shares, certificates, IRAs, club accounts, checking accounts) and interest paid on all loans for this year as a percentage of the grand total, which is applied as a percentage of the $300,000. The aim was to reward both savers and borrowers.
While bankers generally seem to support a draft rule that would make larger companies eligible for SBA loans, smaller firms and Democratic lawmakers have panned the proposal.
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Scott Powell, who was hired by CEO Charlie Scharf to help fix the bank's regulatory problems, is moving into the chief risk officer role.
Federal banking agencies spent the year putting agentic AI outside their guidance. The attorneys general want Congress to move the opposite way.
