WASHINGTON - (01/26/05) -- The underdog Philadelphia Eagleswill defeat the New England Patriots in the Super Bowl Feb. 6because credit unions in the City of Brotherly Love are strongerthan their Boston counterparts, according to a prediction fromCallahan & Associates. The company examined seven ratios todetermine the financial strength of the credit unions in eachteam's respective city and found that Philadelphia credit unionsare experiencing stronger growth and higher return-on-assets, "andwe feel that these will be their keys to success." Callahan's usedsimilar data to correctly predict that both Philadelphia and NewEngland would win their respective conference championship games.One caveat: last year, using state data (rather than city data)Callahan's predicted that the Carolina Panthers would defeat thePatriots in the Super Bowl. The Patriots won that game32-29.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
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St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
September 17 -
The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.
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