RICHMOND, Va. - (11/23/04) -- State regulators said they haveapproved a conversion of Tidewater Telephone Employees CU to whatamounts to the broadest community field of membership ever granteda state chartered credit union in Virginia. The ruling by theVirginia Bureau of Financial Institutions will allow the $35million Virginia Beach-based credit union to serve more than 1.1million residents in the Virginia Beach area, including the citiesof Norfolk, Portsmouth, Chesapeake, Suffolk, Newport News, andHampton. It is believed to be the first state chartered FOM to topthe one million mark.
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A team of ex-First Republic private bankers hopes to serve entrepreneurs who once worked with Silicon Valley Bank.
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The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.
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In a joint letter signed by over 50 bank trade groups, leaders in the banking industry urged regulators to revise bank regulatory thresholds upward to keep up with inflation.
July 1 - Yahoo Finance Feed
Dime Community Bancshares, which has added dozens of bankers over the past two years, is now ready to consider expanding its geography.
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The conviction of a fraud ring mastermind highlights growing risks in home equity lines of credit as equity-rich borrowers become prime targets.
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The Senate passed President Trump's tax and spending bill Tuesday, but questions around Consumer Financial Protection Bureau funding, 1071 delay and remittance taxes remain as GOP leaders scramble to pass the bill out of the House before Trump's July 4 deadline.
July 1