MADISON, Wis. - (12/02/04) -- Loan growth continued to be strongat credit union in October, according to CUNA. Loans expanded by0.6% during October, pushing year-to-date loan growth to 9.2%, thestrongest since 2000. Home equity loans led the way for the month,growing by 2.7%; while adustable-rate real estate loans grew by1.3% and new car loans by 1.1%. Unsecured personal loans,fixed-rate mortgages and credit card loans all declined during themonth. Share growth rebounded in October after two down months,rising to 1%. Share growth through the first 10 months of the yearwas 5.2%, down from 9.5% for the same period last year, and thelowest since 2004.
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Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
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Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
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Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
March 20 -
Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
March 20 -
CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.
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Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.
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