WASHINGTON – Army officers joined medical personnel and family members of stricken soldiers yesterday to dedicate a new Oncology Palliative Care suite at Walter Reed Army Medical Center, which was built by the Pentagon FCU Foundation. The center will provide short-term housing for families of soldiers being treated for cancer at the U.S. military’s preeminent medical facility. Despite plans to close the medical facility and merge it into nearby Bethesda Naval Hospital in the next five years, officials with the credit union foundation and Walter Reed acted to build the new hospital wing now. “We wouldn’t want to sit around and do nothing just because the hospital is going to move,” said Rocky Mitchell, president of the credit union foundation, which provided $400,000 for the hospice unit. The funding was raised by individual and corporate donations, as well as the Foundation’s annual ‘Night of Heroes’ gala and ‘Military Heroes’ golf tournament.
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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 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.
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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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