Credit unions should consider the quantifiable aftershock of a damaged reputation
Acting as primary sponsor for supplemental capital legislation and co-sponsoring every credit union bill that crosses his desk, Congressman Brad Sherman (D-Calif.) has long been a supporter of credit unions.
The email from a usually voluble credit union executive who had been asked to comment on the secrecy that surrounds compensation of top managers at federally chartered credit unions said, “Too touchy of a subject for me. Sorry.”
JPMorgan Chase’s $2 billion failed credit risk hedge is different than the investments that led to the corporate credit union crisis. However, there are also similarities, according to industry investment experts. Specifically, overleveraging and a drive for income that compromised risk management.
The aftermath of a $2 billion trading loss at JPMorgan Chase & Co., continues to spread both in and outside the company.
The Illinois Democrat tells CEO "you and your bank already are making money hand over fist."