DALLAS - (09/06/05) -Texas credit unions have become amongthe most active in raising money and taking other steps to assistvictims of Hurricane Katrina. The Texas CU League, which notedthere are as many as 550,000 CU members served by 95 credit unionswho may be displaced by the storm in Mississippi, Alabama andLouisiana, by mid-day Friday had raised $192,000 in donations andpledges from 13 credit unions across the state. Houston area creditunions opened more than 36 local branches to help disaster victims,who wetre pouring into the Houston area by the thousands. The TexasFoundation said it has begun granting emergency funds to provideimmediate assistance to staff members from affected credit unions.The Foundation also overnighted a $7,500 emergency grant to assistmore than a dozen Louisiana League employees who have beendisplaced. MSC locations is providing check cashing and offlinewithdrawal options for members from Louisiana and Mississippi andAlabama credit unions.
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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
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Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
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The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
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Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
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