WASHINGTON - (11/22/04) -- Congress finished the brunt of itslame duck session and left town Saturday, leaving the bankruptcyreform to die on the vine once again. Lawmakers may return for abrief attempt to vote recommendations by the 9/11 Commission butonly if agreement can be reached on the key recommendations,according to John McKechnie, chief lobbyist for CUNA. "It doesn'tlook as if they're going to get to our stuff," McKechnie told TheCredit Union Journal Sunday. The long-sought bill, which would makeit tougher for individuals to walk away from debt, relegating theminstead to a reorganization of their finances, has been lingeringsince it was passed by both the House and Senate last year, butboth chambers have yet to agree on a single version of the bill.This would be the fourth straight Congress that the bill hasdied.
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Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
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The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
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Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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