WASHINGTON - (03/04/05 -- New York Sen. Charles Schumer, theman who scuttled the bankruptcy reform bill each of the last twocongresses, said he is preparing to propose his 'poison pill'amendment again next week as the Senate approaches a final vote onthe credit union-backed measure. Schumer told The Credit UnionJournal he will propose his amendment to bar abortion clinicprotesters from shielding their assets under bankruptcy but withoutthe words "abortion clinic" in it, hoping the broader applicationto those committing any acts of violence or coercion will be moreacceptable to Republicans and other opponents of his amendment."We're going to push our amendment because it belongs in thebankruptcy bill," said Schumer. But there are indications thatSchumer does not have enough support among his Democraticcolleagues to get his amendment passed. The Schumer amendment,which garnered nationwide opposition by the anti-abortion lobby,influential with the Republican caucus, effectively killed thebankruptcy bill each of the last two congresses because Republicanleaders did not want to put the matter to a final vote.
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Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.
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The application follows on the heels of Circle and Wise, as crypto and payment companies seek crypto custody approval and direct access to the Federal Reserve payment system.
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The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.
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Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.
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Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.
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A federal judge in New York has rejected Huawei's effort to toss charges alleging bank fraud, sanctions violations and trade secrets theft.
July 2