WASHINGTON - (06/15/05) -- The Senate will formally begin theprocess of drafting a regulatory relief bill for credit unions andbanks next week after a hearing before the Senate Banking Committeewhere regulators and trade associations will be invited to givetheir recommendations. Representatives of NCUA, as well as CUNA andNAFCU are expected to testify before the panel, which is expectedto introduced a version of a regulatory relief package soon afterthe July 4 holiday. Several members of the Senate panel areexpected to grill Chairman Johnson on the ongoing controversy overthe agency's treatment of the voting to convert Community CU andOmniAmerican CU to mutual savings banks. The House FinancialServices Committee, which has completed its own hearings on RegRelief, is expected to introduced its own version of a relief billaround the same time.
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The top five banks and thrifts have combined total assets of nearly $13 trillion.
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The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.
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The two regional banks are anticipating that borrower demand will increase in the back half of the year. High interest rates and economic uncertainty have been muting the appetite for borrowing.
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In a letter to Treasury Secretary Janet Yellen last week, the Massachusetts senator highlighted the growing use of cryptocurrencies by malicious organizations abroad and underscored the need for anti-money-laundering and counterterrorism provisions in future proposals.
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Brendon Falconer, finance chief of the Indiana company since 2019, faces felony child molestation charges. But CEO James Ryan says management is focused on the CapStar integration and organic growth.
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The banking-as-a-service middleware provider will be acquired by TabaPay. Other middleware providers may be forced to evolve or face the same fate.
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