Speaking out: Two Louisiana senators will hold a news conference at 3:30 p.m. today to discuss the resolution they will file calling for the expulsion of Democratic state Sen. Troy Brown. According to a news release, Republican state Sens. Dan Claitor, of Baton Rouge, and Sharon Hewitt, of Slidell, plan to file the resolution when the Senate convenes in special session this evening. Several lawmakers have called on Brown, of Napoleonville, to vacate his elected seat following his second no contest plea for a domestic abuse charge in the past year. Brown has refused to resign so far and has vowed to fight any efforts by his colleagues to expel or suspend him. The news conference will be held in the Hainkel Briefing Room located in the basement of the State Capitol.
Covering more ground: New Orleans-based Gulf Coast Bank & Trust Co. announced today that it has acquired Dallas-based lender CapitalSpring SBLC. The financial terms of the deal were not disclosed. However, a news release says the acquisition includes the entire CapitalSpring SBLC staff and management, including the company’s president Nimi Natan. Going forward, CapitalSpring will be known as Gulf Coast SBA Lending, the release says. CapitalSpring was founded in 2012 and has provided loans to restaurants, hotels, health clubs, professional practices, manufacturers and automotive aftermarket suppliers, among other businesses. Gulf Coast Bank & Trust has more than $1.5 billion in assets and serves business and personal banking clients in Louisiana and Florida. It has locations on Perkins Road and Jefferson Highway in Baton Rouge.
Final vote: The U.S. Senate is expected to confirm former Goldman Sachs banker and Hollywood financier Steven Mnuchin as Treasury secretary tonight, returning a Wall Street veteran to the top U.S. economic and financial job for the first time in eight years. Reuters reports Mnuchin’s appointment to Treasury signals the Trump administration’s trust in bankers and other senior business executives after Democrat Barack Obama launched his presidency with career regulator Timothy Geithner running Treasury and a mandate to rein in Wall Street for its role in the 2007-2009 financial crisis. Democrats, who boycotted Mnuchin’s approval by the Senate Finance Committee, are expected to vote against Mnuchin. But no Republicans have declared opposition, setting the stage for a party-line 52-48 vote. Read more.
