ONTARIO, Calif. - (06/16/05) -- Long-time credit union executiveStanley Hollen was named as new CEO of the CO-OP Network, thenational electronic funds tansfer network owned by credit unions.Hollen will succeed Robert Rose, who has headed the CO-OP since1990 and built it from a regional network to a national switchparticipated in by more than 1,800 credit unions with access to20,000 ATMs in all 50 states. Hollen recently served as presidentand CEO of Liberty Enterprises, before it was sold to John H.Harland Co., and before that as president of The Golden 1 CU, inSacramento, Calif. Before going to work at The Golden 1 CU, Hollenwas vice president at Construction Equipment FCU in Peoria, Ill.,where he created one of the early shared ATM networks with localbanks and thrifts
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The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.
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The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
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Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
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Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure.
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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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