AUSTIN, Texas - (05/19/05) -- The Texas CU Department saidWednesday it is investigating a complaint filed by a dissidentgroup of Community CU members claiming the credit union giant hasviolated state law in its bid to convert to a mutual savings bank.The group, calling itself, the Texas Coalition for CU Members,alleges the $1.4 billion credit union violated state requirementson disclosures it sent out to 225,000 members on the impending voteto convert charters. Kerri Galvin, general counsel for the statecredit union regulator, told The Credit Union Journal they willattempt to expedite a review of the complaint in response to thegroup's request that a decision be rendered by May 27, as the finalvote on the conversion is slated for June 21.
-
Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
1h ago -
The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
3h ago -
The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
5h ago -
Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
7h ago -
Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
7h ago -
The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
9h ago