Senate OKs credit union expansion bill

Article Abstract:

The Senate assented a bill that would permit millions of consumers to join credit unions. The Senate voted 92-6 to allow credit unions to expand beyond their core member groups. Se. Alfonso D'Amato, chairman of the Banking Committee, stated that the bill would help middle-class families afford financial services. Daniel Mica, president of the Credit Union National Association, declared that the bill would permit credit unions to add members from worker organizations of 3,000 or less and that it would open credit union membership to approximately 60 million people who are employed in firms that are too small to form their own credit union.

Comment:

Senate assents a bill that would permit millions of consumers to join credit unions

Government regulation (cont), Credit Unions, Article

---

Oil companies hope to cut costs, gain clout

Article Abstract:

Anaylsts say that a merger between Chevron and Texaco is expected to save both companies $1 billion in costs annually. A combined Chevron and Texaco would also result in an organization with the money to finance costly offshore oil and gas explorations. Analysts add that Texaco stands to benefit most from the merger since its profit in 1999 was only half that of Chevron's despite earning $4 billion more. Moreover, Texaco's big projects would not start until 2002 and it would not have any earnings growth potential if oil prices return to normal levels.

Asset sales & divestitures, Petroleum, Petroleum and Coal Products Manufacturing, Texaco Inc.

---

Citygroup buys Sears' credit card business

Article Abstract:

The author examines Citigroup's acquisition of Sears' credit card division for $3.4 billion.

Department Stores, Financial Services, Finance and Insurance, Parent-to-subsidiary activities, Subsidiary-to-parent activities, Mergers, acquisitions and divestments, Financial services industry, Company acquisition/merger, Sears, Roebuck and Co., S, Citigroup Inc., C, Subsidiaries, divisions and units

Similar abstracts:

• Abstracts: Small regional airlines' expansion plans. US Airways revisits bad old days. AirTran envisions comeback
• Abstracts: Regulators to keep close eye on PepsiCo after deal. Comcast goes after AT&T cable. SBC looking to seal deal with Telia for $6B
• Abstracts: What detonated dot-bombs? Stocks rally on hopes of strong profits: Fewer firms issue warnings
• Abstracts: Mall owners fill gaps with non-retail tenants. Can courts' cloak of secrecy be deadly? Hotline can help you sort out tax quandaries

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.