LAS VEGAS - (07/19/05) -- Just as outgoing NAFCU Chair DianeFurnas was preparing to adjourn an uneventful annual businessmeeting, one voting delegate brought up a sticky issue: the lack ofvolunteers in the national leadership of the credit union movement."Credit union volunteers are partners in this movement," saidMarlene Schwartz, a director at State Department FCU who had run,and lost, for the NAFCU board. "We, the volunteers, are what setscredit unions apart, yet we are not represented proportionately [inthe national leadership of the movement]." NAFCU is currently theonly major national trade association that has a volunteer on itsboard, but Schwartz was joined by several other directors whosuggested this isn't good enough and that neither NAFCU, CUNA norCUES has created an 'inclusive' environment for board members tocome to the helm of the movement's national leadership. Followingthe meeting, Schwartz said NAFCU's incoming chair, Summit FCU CEOMike Vadala, asked her to call him this week to discuss how NAFCUcan help ensure better representation of volunteers on itsboard.
-
The Office of the Attorney General in New York says the bank violated the state's Exempt Income Protection Act, illegally transferring customers' money to debt collectors.
2h ago -
The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.
2h ago -
After the Minneapolis-based company reported stubbornly high commercial deposit costs, it reduced its full-year forecast for net interest income by $200 million-$500 million.
4h ago -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
5h ago -
Rising deposit costs have plagued banks in general, and the Tennessee bank had to pay up to bolster liquidity after its failed merger with TD. But First Horizon retained customers in the first quarter while not paying them the special rates they got last year.
5h ago -
U.S. customers who have previously used Sweden-based Klarna's buy now/pay later financing — and paid off their loans in full — will be prequalified for interest-bearing loans through a new version of the Klarna Visa card rolling out later this year.
5h ago