BILLINGS, Mont. - (12/27/04) -- Gene Amestoy got a special Christmasgift from the community this year. Friends and family, includingAvanta FCU (formerly Laurel FCU) raised almost $15,000 to helpreplace Amestoy's 1988 Ford van, equipped with an automatic liftfor Amestoy's wheelchair, that was stolen last month. The van,stolen from in front of Amestoy's apartment, was found by sheriff'sdeputies but not until it had been gutted by the thieves, whoremoved the stereo, speakers, lights, seat cushions and thealternator. When news of the theft became public people in thecommunity mobilized to help replace the van for Amestoy, whosuffers from multiple sclerosis. Members and employees of thecredit union donated $4,600 during a fundraiser, the ThriventFinancial Financial for Lutherans raising $5,300, and localresidents made up the rest.
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In this week's edition of the American Banker news quiz, gauge your understanding of topics like Trump's ongoing criminal trial, alleged misconduct within the Federal Deposit Insurance Corp., industry succession planning and more.
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Many banks got shares in the lucrative payments network when it went public in 2008. Some of them are now looking to sell in order to offset losses on their sales of underwater bonds.
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Depositors are still flocking to online-only banking platforms offered by companies such as Ally, Capital One and Discover. But overall customer satisfaction took a "statistically significant" drop, according to a new J.D. Power report.
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Executives of Allegiant, Breeze and Spirit complained to the heads of the Consumer Financial Protection Bureau and Department of Transportation that the relationships between big banks and big airlines are anticompetitive. Consumer advocates also questioned whether large airlines are delivering on promised rewards and if consumers are racking up debt to accrue miles and points.
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The Federal Reserve Thursday released a report on its climate stress test pilot assessing the impact of climate change on big bank portfolios and found that loan defaults could increase as a result of climate events and shifts toward a lower carbon economy.
May 9 -
Banks are turning to the same hyperscalers for cloud computing and generative AI. Some wonder what the consequences will be down the road.
May 9