1st Advantage FCU partnered with local Red Cross chapters to raise more than $200,000 for Hurricane Katrina relief efforts. Throughout September, the credit union encouraged the communities it serves to step up to the plate to help out victims of the devastating hurricane, with the CU matching those contributions up to $75,000. Among those raising money was Boy Scout John Hollenbeck, who held a series of car washes (one of which was at a 1st Advantage branch) to raise more than $6,000 as part of his bid to earn his Eagle Scout honors. By far, the largest group of donations came from the residents and staff of Williamsburg Landing. In just nine days, they collected an astounding $44,710.00. After combining the individual contributions 1st Advantage received and the matching donation, 1st Advantage President Adrian "Casey" Duplantier, Jr., presented a check for $205,614 to the American Red Cross. Duplantier, a New Orleans native, witnessed the destruction firsthand, as he was visiting relatives down in the area when the storm struck.
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Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
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The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
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The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
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Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
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Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
April 25 -
The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
April 25