COSTA MESA, Calif. - (04/20/06) Consumers have become morenegative about their credit situation over past month, according tothe Experian-Gallup Personal Credit Index, which measures consumerconfidence month to month. The decline comes equally from concernsabout the present and future, the survey found. Only 15% ofconsumers say now is a good time to borrow more money, down from20% last month. Future concern about extending debt alsocontributed to the drop in consumers¹ feelings about theircredit, making the debt extension issue now and in the futureaccount for more than half (five points) of the overall nine-pointdecline in the index, the company said.
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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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