First Citizens Bank

Hagan criticizes Dole over banking bill

ryanteaguebeckwith — Tue, 30 Sep 2008 15:25:37 -0400

Republican Sen. Elizabeth Dole was criticized Tuesday for attempting to loosen banking regulations earlier this year at time a time when the financial crisis was growing.

Democrat Kay Hagan noted that Dole had introduced legislation that would have made voluntary, rather than mandatory certfication by CEOs and outside auditors of the internal accounting controls of banks, Rob Christensen reports.

Hagan said quoted an industry publication as saying such legislation was “supremely naive” after all all the corporate scandals.

She also said that Dole received a campaign contribution of $2,500 from Bear Stearns’ PAC six days after she introduced the legislation. The Bear Stearns Companies, Inc., a New York-based investment bank, collapsed last month as part of the subprime mortgage crisis.

"Once again she is a rubber stamp for President Bush," Hagan said in a teleconference with reporters.

The Dole campaign dismissed the allegations. The loosening of standards of the Sarbanes-Oxley law had been requested by First Citizens Bank of Raleigh and supported by the state Bankers Association as a way to relieve the regulatory burdens on smaller banks, said Brian Nick, Dole’s chief of staff.

"To say that Bear Stearns some how benefited from this is absolutely preposterous," Nick said. "It shows a total lack of understanding that Kay Hagan has."

More after the jump.

Moore's PAC money: $105,965

ryanteaguebeckwith — Thu, 31 Jan 2008 16:40:44 -0500

Richard Moore received $105,965 from political action committees since 2005.

According to campaign finance reports filed since his 2004 re-election as state treasurer, the Democratic gubernatorial candidate received donations from 45 PACs.

He received $4,000 apiece from ACS, Bank of America, BB&T, Wachovia, Central Carolina Radioloigsts, Coca-Cola, the Eastern Band of Cherokee Indians, the Harnett Citizens PAC, Kennedy Covington, the N.C. Hospital Association, Replacements Ltd., Southeastern Radiology Organization, the Nationwide Carolina Political Participation Fund, the National Good Government Fund.

He received $3,965 from the Pike Electric PAC, $3,500 from the Capital Area Radiologic Association, $3,000 apiece from Corning employees' PAC and Genworth Financial, and $2,200 from Piedmont Stone Center.

He received $2,000 from the Ashland/APAC North Carolina PAC, CCHTA, GlaxoSmithKline, the N.C. Automobile Dealers Association, the N.C. Realtors Association, Pfizer, Sandhills Anesthesiologists, PBSJ Corp., the South Financial Group, United Health Services and Wal-Mart.

He received $1,500 from Piedmont Natural Gas.

Other donors included Duke Energy, First Citizens Bank, Marqim, the N.C. Association of Convenience Stores, Smithfield Foods, the N.C. Bar Association and the N.C. Beer and Wine Wholesalers Association.

Progress Energy and Moore's documentary

ryanteaguebeckwith — Fri, 24 Aug 2007 11:40:22 -0400

Progress Energy underwrote a documentary based on Richard Moore's book.

The electric utility was one of four sponsors of "Faces from the Flood," a 55-minute documentary about Hurricane Floyd that aired on UNC-TV in 2004. (It also bought copies of the book.)

The public television station hired independent producer Donna Campbell, who had already made two documentaries on the hurricane, to make a third in April of 2003, while the book was still being written.

Campbell worked with Treasurer Moore and co-author Jay Barnes, tracking down many of their key sources for second interviews on film. Moore is also featured for three minutes toward the end of the documentary.

UNC-TV spokesman Steve Volstad said that the sponsors were found by a separate department. Moore and Campbell both told Dome they were not aware who the sponsors were during filming.

Each of the sponsors — Progress, Lowe's Home Improvement, First Citizens Bank and the nonprofit Broyhill Foundation — contributed $15,000.

The show aired on May 20, 2004, and has been broadcast six times.

Home banking?

ryanteaguebeckwith — Tue, 31 Jul 2007 18:48:36 -0400

Who deposited the $500,000 checks?

In court today, an official with First Citizens Bank said that two checks from lobbyist Don Beason to former House Speaker Jim Black's accounts were deposited in its Five Points branch.

But neither prosecutors nor defense attorneys knew who deposited the checks.

Gustavo Schmidt, a compliance officer with the bank, said that the first check was deposited at 4:58 p.m.on Thursday, June 29, 2000, and the second at 9:48 a.m. on Thursday, July 13.

That appeared to rule out Black's campaign treasurer, Virginia Kelly, who worked out of his Charlotte optometric practice. But neither Black nor Kelly recognized the handwriting on the deposit slip.

The bank, at 2001 Fairview Road, was not far from Beason's house at 2913 Fairview. During legislative sessions, Black stayed in a condominium in Bishop's Park off Glenwood Ave., which would be about as close to the bank's Cameron Village branch.

Black's attorney, Ken Bell, said the check was likely deposited by someone in his Raleigh office.