FARMERS BRANCH, Texas - (09/28/05) -- At least a dozen Texas credit unionswere not operational Tuesday, following Hurricane Rita. Anemergency response team comprised of representatives from the TexasCU League, Southwest Corporate FCU, state and federal regulatorswere able to reach 23 credit unions by phone; seven of which werefunctioning and three of which were only partly operational. "Ofthe two-dozen credit unions with whom we've made contact, abouthalf of them are not operational. They are being told that it maybe several weeks before power will be restored in Beaumont, PortArthur, Orange and the surrounding communities," Dick Ensweiler,president of the Texas league, told The Credit Union Journal. Allthree Houston-area Member Service (shared branching ) Centers andCUER opened for business yesterday. And in Louisiana, leagueofficials said there are as many as 45 credit unions
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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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