WASHINGTON - (03/09/05) -- A group of anti-abortion senatorsled the charge against the so-called Schumer amendment Tuesday,prompting the Senate to turn aside a bid to add a provision to thebankruptcy bill to bar abortion clinic protesters from shieldingtheir assets under bankruptcy. "I've been around here long enoughto know a poison pill when I see one--and make no mistake--this isa poison pill," insisted pro-life Sen. Orin Hatch, R-Utah, duringTuesday's debate over the amendment that killed the bankruptcy billin each of the last two congresses. Jeff Sessions, R-Ala., likeHatch an abortion opponent, said there were already enoughsafeguards to prevent perpetrators of violence from shielding theirassets under bankruptcy. But Sen. Charles Schumer, D-N.Y., said theprovision was necessary to prevent abortion protesters convicted ofviolent crimes against abortion clinics and doctors from filing forbankruptcy to prevent victims from attaching their assets in acivil suit. "What this amendment says is 'if you use violence as apolitical goal and you are sued, you can't then go back and ask thebankruptcy court for help in protecting your assets,'" saidSchumer, explaining the amendment is aimed at all violentprotesters, as he removed the term 'abortion' from the language."This equally applies to extremists of the far right or the farleft. Anyone who violently or misguidedly blocks access to anylegal service; pro-life or eco-terrorists, alike, it would applyequally." The defeat of the Schumer amendment clears the way forfinal Senate passage of the credit union-backed bill, expectedWednesday, after which House leaders have pledged quick passage ofthe measure.
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The bank is launching KeyVAM, a virtual account management offering it designed with fintech Qolo. Both companies said the nature of the relationship was as important as the technology it produced.
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The top five bank holding companies have combined total credit card loan portfolios of more than $705 billion.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
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Ally Financial ended a six-month search for its next chief executive by hiring Discover CEO Michael Rhodes. The move adds a new wrinkle to Discover's pending sale, though Discover said that Rhodes hadn't been expected to have a long-term role at Capital One following the merger's completion.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 - Yahoo Finance Feed
The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
March 27