TORONTO – For the third year in a row, NAFCU awarded Members First FCU its ‘White Hat’ award for raising the most funds for NAFCU’s political action committee. But this year’s award was for an off-the-charts performance as the Mechanicsburg, Pa., credit union raised $80,000 in PAC money in 2005, the most ever by any credit union in a single year. Members First President Robert Marquette, who challenged each credit union to get involved in raising political action funds, said they raised the money by selling NAFCU stuffed bears, holding golf tournaments, and with a variety of other events. The $900 million credit union has raised almost $150,000 for NAFCU’s PAC over the past three years.
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JPMorganChase and Bank of America raised concerns about the proposed removal of risk-weighted assets from the denominator of the short-term wholesale funding component of the GSIB surcharge — changes backed by Goldman Sachs and Morgan Stanley.
June 26 -
House Speaker Mike Johnson, R-La., reportedly plans to send the recently passed housing bill to the White House on Monday, starting a 10-day clock for the president to sign the bill.
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The global payments platform, which recently expanded to the U.S., also plans to build new autonomous finance and agentic commerce products.
June 26 -
A new lawsuit seeking class-action status alleges that FirstBank Puerto Rico knowingly facilitated Jeffrey Epstein's sex trafficking operation by failing to enforce basic anti-money-laundering and know-your-customer rules.
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Pinnacle Financial Partners' headquarters is moving to a new 25-story office tower in Midtown Atlanta; New Jersey-based Provident Bank appoints Adriano Duarte to succeed Thomas Lyons as chief financial officer; Binance will shut down services for customers in France, Italy, Spain and Poland after the exchange withdrew its MiCA licence application in Greece; and more in this week's banking news roundup.
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The bank is part of a trend of financial institutions trying to streamline a complicated industry that paper has dominated for years.
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