HARRISBURG, Pa. - (10/25/04) -- Credit unions in the Keystone Statehave a chance to help elect candidates to two open House seats nextweek, including one of their champions in the state legislature.That is Democrat Allyson Schwartz, chairman of the state SenateBanking Committee who proved her credit union bona fides in 2002 byco-sponsoring the state's credit union parity bill. Schwartz isrunning for the state's 13th House district, which Rep. JosephHoeffel vacated to run against Sen. Arlen Specter. The credit unionlobby is also supporting Republican Bucks County CommissionerMichael Fitzpatrick, a long-time member of Knights of Columbus FCU,in his race to succeed Rep. James Greenwood, who is retiring aftersix terms. The credit union lobby also threw its weight behind Rep.Tim Holden this time, after being forced by congressionalredistricting in 2002 to support Holden's opponent, George Gekas,the champion of the credit union-backed bankruptcy reform bill. "Wewent to work on our relationship with him right after theelections; he understood," Jan Hartman, chief lobbyist for thePennsylvania CU Association, told The Credit Union Journal of thedifficult choice the league faced in the last elections. Bothleague and credit union employees are volunteering to campaign forHolden, who has made several visits to credit unions and leagueoffices.
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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.
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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.
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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.
April 25 -
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.
April 25 -
Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
April 25 -
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.
April 25