WASHINGTON – Now it can be told. Senator Joe Lieberman said CUNA’s behind the scenes roll in his Senate campaign may have been responsible for his come-from-behind win. Lieberman, the first candidate ever elected to the Senate after losing his party’s primary, said it was a broad mailing campaign on his behalf secretly conducted by CUNA that may have pushed him over the top. The four-term Democrat was referring to almost $250,000 independent expenditures by CUNA in the final days of the Democratic primary, then again in the general election, when Lieberman ran as an independent, to blanket the state with pro-Lieberman mailings. As Lieberman noted during a speech at CUNA’s Governmental Affairs Conference, neither he or his staff knew of the CUNA mailing campaign and were barred from knowing under federal elections laws. “I will say I owe you for your support,” said Lieberman, who only learned CUNA’s roll after the elections. “Without that support I wouldn’t be here.”
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The central bank extended the deadline for comments on Regulation O by one month, to Nov. 4.
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The Brazil-based digital bank, which recently launched a U.S. business, submitted an SEC filing to stop the spread of misinformation.
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The bank-owned payments company has been developing an interoperable payments network that will allow banks to clear and settle tokenized deposit transactions. It's targeting an early 2027 launch for the network, and is working toward an atomic future thanks to bank demand.
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More states are providing funding to community development financial institutions, which are contending with hostility from the Trump administration and challenges from high interest rates.
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Chicago-based Northern Trust has started its search for a new CFO as David Fox plans to retire in March; the American Fintech Council has been appointed as an observer on the Conference of State Bank Supervisors' newly formed nonbank industry advisory; Wells Fargo has hired JPMorganChase investment banker David Harkin to advise on technology deals, and more in this week's banking news roundup.
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A proposal is meant to ensure advisors can trade client assets on a discretionary basis without triggering onerous custody requirements, while also giving them a self-custody option for crypto.
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