The Electronic Payments Coalition recently released a report highlighting the significance of credit card rewards for American consumers, particularly those in lower-income households. According to the study, credit card reward programs play a crucial role in helping individuals across all income levels manage their finances.EPC Executive Chairman Richard Hunt emphasized the importance of cashback rewards for financially vulnerable households, stating, "Americans of all incomes take advantage of credit card reward programs but the most financially vulnerable households...
CFSB Bancorp, Inc. released their fiscal third-quarter and year-to-date 2024 financial results on April 29, 2024. The Company reported a net loss of $40,000 for the three months ended March 31, 2024, as compared to a net loss of $210,000 for the previous quarter and net income of $355,000 for the same period in 2023.Michael E. McFarland, President and Chief Executive Officer of CFSB Bancorp, Inc., commented on the challenging financial environment, stating, "Liabilities continue to reprice at a faster rate than assets. These short-term rates over the last twenty-four...
ALBEMARLE, N.C., April 29, 2024 /PRNewswire/ -- Uwharrie Capital Corp (OTCQX: UWHR) and its subsidiary, Uwharrie Bank, have announced their first-quarter results for 2024. The company reported consolidated total assets of $1.10 billion at the end of March 31, 2024, showing growth from $1.07 billion at the end of December 31, 2023.According to Uwharrie Capital Corp, "During the first quarter of 2024, the Bank experienced growth in both loans and core deposits due to continued relationship development in the markets we serve." This growth contributed to the positive...
MIND Technology, Inc., a technology provider to various industries, including the oceanographic and defense sectors, has announced its financial results for the fiscal 2024 fourth quarter and year ended January 31, 2024.According to the company's President and Chief Executive Officer, Rob Capps, "We are pleased to report solid results for the fiscal fourth quarter and our first profitable fiscal year since 2014. This is a significant milestone and a reflection of the efforts that we've made to strategically position the Company for future growth."Capps further added,...
Truist Financial Corporation has introduced a new financial education program called Truist Life, Money, and Choices™, tailored specifically for high school and college students. The initiative aims to provide participants with realistic financial scenarios and choices to empower them with essential skills for their financial futures.Anthony Weekly, Truist's Chief CRA/Community Development Officer, expressed enthusiasm for the program, stating, "As we close out National Financial Literacy month, we are thrilled to launch this initiative, which directly aligns with our...
Washington, D.C. (April 29, 2024) — The Independent Community Bankers of America (ICBA) recently shared a statement from Stifel, emphasizing the crucial role of community banks in the nation's banking system.In the statement, Brant McDuffie, Stifel’s Co-Head of Fixed Income Capital Markets, expressed Stifel's commitment to supporting community banks. McDuffie stated, “Stifel is dedicated to serving community bank clients and offers a full set of products and services tailored to our common mission to serve community banks. A robust, diverse and healthy banking system is...
Scotiabank announced today the appointment of Travis Machen as the CEO and Group Head of its Global Banking and Markets (GBM) business, effective May 6, 2024. In this new role, Mr. Machen will lead the strategic direction of Scotiabank's global banking business, focusing on expanding product offerings and attracting more primary clients to drive sustainable growth.Scott Thomson, President and CEO of Scotiabank, expressed confidence in Machen, stating, "Travis is a forward-thinking leader with the vision and experience to lead our Global Banking and Markets business."...
SoFi Technologies, Inc. has announced its financial results for the first quarter of 2024, showcasing impressive growth and profitability. The company reported a net revenue of $645 million and a net income of $88 million, marking its second consecutive quarter of GAAP profitability.According to the report, the 54% combined revenue growth in the tech platform and financial services segments drove a 26% growth in total adjusted net revenue. The management team at SoFi also raised the guidance for the fiscal year 2024."SoFi is a member-centric, one-stop shop for digital...
Los Angeles World Airports (LAWA) has made a significant stride in promoting inclusivity and diversity in its contracting model for capital improvement projects. The latest Multiple Award Task Order Contract (MATOC) approved by the Los Angeles City Council represents nearly $1 billion in contracting value and has set new standards for inclusivity.Karim Webb, President of the Board of Airport Commissioners, expressed his satisfaction with the decision, stating, "After supporting this game-changing MATOC with my fellow BOAC members, I commend the City on its unanimous...
CARMEL, Ind., April 29, 2024 /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO) announced its first-quarter results for 2024, showcasing a significant improvement over the previous year. The company reported net income of $112.3 million, or $1.01 per diluted share, compared to a net loss of $0.8 million, or $0.01 per diluted share, in the first quarter of 2023.Gary C. Bhojwani, CEO of CNO Financial Group, expressed satisfaction with the quarterly performance, stating, "First quarter results were among the best operating metrics we've delivered in the past several years...
Bill Himpler, president of the American Financial Services Association (AFSA) joined the American Legal Record Podcast to discuss AFSA’s mission, a macro look at the state of credit, mortgage borrowing, its relationship to the Consumer Financial Protection Bureau (CFPB), the regulatory environment, and what lies ahead re interest rates.
Billd has released its 2024 National Subcontractor Market Report, revealing significant insights into the financial state of subcontractors in the commercial construction industry. The report, based on a survey of nearly 700 professionals, highlights a notable disparity between subcontractors who account for working capital costs and those who do not. According to the findings, subcontractors who consider these costs achieve an average of 11% higher profits compared to their peers.
On the final day of America’s Credit Unions’ 2024 HR & Organizational Development Council Conference in St. Pete Beach, Fla., industry professionals shared valuable insights and advice for HR leaders. The panel, moderated by Coastal Credit Union Chief Administrative Officer Mia Perez, featured leaders from various credit unions who highlighted key aspects for HR leaders to consider.Christine Messer, Chief Financial Officer at Heritage Family Credit Union, emphasized the importance of leadership skills in the finance sector, stating, “I can train anybody to do accounting...
GUANGZHOU, China, April 26, 2024 /PRNewswire/ -- CNFinance Holdings Limited (NYSE: CNF) ("CNFinance" or the "Company") has announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the U.S. Securities and Exchange Commission ("SEC") on April 26, 2024.The Company stated, "The annual report can be accessed on the Company's investor relations website at http://ir.cashchina.cn as well as the SEC's website at http://www.sec.gov."Furthermore, CNFinance Holdings Limited confirmed, "The Company will provide a hard copy of its annual...
Tirzah Duren, the vice president of policy and research at the American Consumer Institute (ACI), said the Consumer Financial Protection Bureau’s (CFPB) recently proposed rules on “junk fees” would harm consumers.
The Financial Services Committee, led by Chairman Patrick McHenry (R-NC), conducted a markup of seven new pieces of legislation and six Congressional Review Acts (CRA) at an April meeting.
Washington, D.C. (April 29, 2024) - The Independent Community Bankers of America (ICBA) commenced the 2024 ICBA Capital Summit in Washington with the unveiling of new polling data that reveals significant public backing for community banker perspectives on critical issues. According to ICBA President and CEO Rebeca Romero Rainey, Americans across the nation align with community bankers' stances on essential policy matters.The ICBA-commissioned polling, executed by Morning Consult, highlighted several key findings. The data indicated that 70% of Americans believe that...
U.S. Rep. Blaine Luetkemeyer (R-Mo.) introduced the Regulatory Transparency for Small Businesses Act, a bill to require any proposed regulation from federal agencies to estimate the number of small businesses that would be impacted by the regulation.
Washington, D.C. (April 25, 2024) - The Independent Community Bankers of America (ICBA) has unveiled its legislative and regulatory policy objectives for 2024, setting the stage for the upcoming ICBA Capital Summit from April 28 to May 1. The resolutions, developed and endorsed by ICBA volunteer community bankers, will shape the organization's advocacy efforts in the year ahead, aligning with its core mission of fostering an environment conducive to the success of community banks.In a statement, ICBA Chairman Lucas White, who also serves as the president of The Fountain...