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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A Luxembourg court ruled against the bank in a long-running lawsuit tied to its custodial role for a fund that invested in the massive Ponzi scheme.
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The Federal Open Market Committee voted to reduce interest rates by 25 basis points Wednesday, but the emergence of dissents on the committee makes the chance of another quarter-point cut in December less certain.
October 29 -
American Banker's 2025 Small Business Banking conference yielded lessons about the need for speed, simplicity and safety in small-business lending. Other key takeaways included the significance of digital payment options and the importance of continuing to process SBA loan requests during the government shutdown.
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Nine months after acquiring Heartland Financial, Missouri's largest bank posted a complicated quarter.
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The legacy money transfer firm plans to launch USDPT, a coin designed to improve international payment processing. That and more in the American Banker global payments and fintech roundup.
October 29 -
Credit analysts say climate risk could still pose a financial threat to financial institutions, even though the federal government has taken an ax to Biden-era climate guidance.
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