United States Senate Banking Subcommittee on Financial Institutions and Consumer Protection

Definiti Appoints Former U.S. Senator Pat Toomey and AssetMark CEO Ron Cordes to Board of Managers

Retrieved on: 
Wednesday, April 5, 2023
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Senator Patrick Toomey and former AssetMark CEO Ronald Cordes to its Board of Managers.

Key Points: 
  • Senator Patrick Toomey and former AssetMark CEO Ronald Cordes to its Board of Managers.
  • Mr. Toomey and Mr. Cordes will serve alongside Definiti’s other Managers, bringing nearly 75 years of regulatory affairs, retirement policy, and wealth management acumen to the Board.
  • These two Board appointments follow the recently announced investment in Definiti by Lovell Minnick Partners (“LMP”), which closed on March 16.
  • He began his career in financial services at Chemical Bank and then Morgan, Grenfell & Co. Mr. Toomey holds a B.A.

Apollo Appoints Former U.S. Senator Patrick Toomey to Board of Directors

Retrieved on: 
Wednesday, February 22, 2023
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NEW YORK, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) today announced former U.S.

Key Points: 
  • NEW YORK, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) today announced former U.S.
  • Senator Patrick Toomey has been appointed to its Board of Directors, effective March 15, 2023.
  • With this appointment, the Apollo Board of Directors will increase to 17 directors, 13 of whom are independent.
  • Marc Rowan, Chief Executive Officer of Apollo, said, “I am pleased to welcome Pat Toomey to the Apollo Board and am confident that he will be a tremendous asset to our firm.

Despite an uncertain economy, the state of banking is full of hope with nearly every bank expecting to grow in 2023, according to Wipfli survey

Retrieved on: 
Thursday, January 19, 2023
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MILWAUKEE, Jan. 19, 2023 /PRNewswire/ -- Wipfli LLP (Wipfli), a top 20 accounting and advisory firm, today published a new report based on a survey of almost 250 banks to better understand their top concerns and how financial institutions are navigating current economic conditions, the national labor shortage and digital engagement. Despite a gloomy and uncertain economy, State of the Banking Industry Report, Research and outlook for 2023 is full of hope. Nearly every bank surveyed expects to grow in the next 12 months, with 70 percent of banks saying they will grow five percent or more. Banks with more than $3 billion in assets –categorized as regional banks – reported even higher confidence, with 94 percent saying they will grow five percent or more this year.

Key Points: 
  • Despite a gloomy and uncertain economy, State of the Banking Industry Report, Research and outlook for 2023 is full of hope.
  • Nearly every bank surveyed expects to grow in the next 12 months, with 70 percent of banks saying they will grow five percent or more.
  • The majority of banks and credit unions surveyed expect to grow in the next 12 months.
  • In order to achieve that growth, banks stated they're tackling strategic priorities like closing the talent gap (which is their No.

Miami Credit Union Testifies Before Senate And Asks For Funding To Better Serve Low-Income & Minority Borrowers

Retrieved on: 
Tuesday, February 22, 2022
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The three experts gave testimony about the role of Community Development Institutions, known as CDFIs, and Minority Depository Institutions in supporting communities.

Key Points: 
  • The three experts gave testimony about the role of Community Development Institutions, known as CDFIs, and Minority Depository Institutions in supporting communities.
  • Their financial services support the growth of local businesses and the jobs they provide for the community," said Mrs. Kucey.
  • For more information about JetStream Federal Credit Union, or to schedule an interview, please contact Meieli Sawyer at [email protected] .
  • The 72-year-old credit union has 5 branches located in Miami, Miami Lakes, Doral and Hialeah, Florida and San Juan, Puerto Rico.

LendingClub Endorses Small Business Truth in Lending bill introduced in US House and Senate

Retrieved on: 
Thursday, November 18, 2021
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Chairwoman Velazquez and Senator Menendez have stood up to support small businesses owners and a more transparent, responsible, and potentially innovative small business lending system," said Louis Caditz-Peck, Director of Public Policy at LendingClub.

Key Points: 
  • Chairwoman Velazquez and Senator Menendez have stood up to support small businesses owners and a more transparent, responsible, and potentially innovative small business lending system," said Louis Caditz-Peck, Director of Public Policy at LendingClub.
  • But the Truth in Lending Act does not apply to most small business financing, and in recent years less-transparent pricing practices have emerged.
  • "We're looking forward to working on this bill with lawmakers on both sides of the aisle to help small businesses recover economically, and to encourage innovation in small business lending.
  • The Small Business Lending Disclosure Act is based on similar small business financing transparency laws that LendingClub and Responsible Business Lending Coalition partners led to passage with overwhelming, bipartisan support in California in 2018 and New York in 2021.