NEW ORLEANS - (02/15/05) Credit unions are being urgedto make their institution the payment portal of choice for membersas competition for depository funds proliferates from non-financialinstitutions. You have to maximize how to get as much moneyas quickly as possible in that account from as many ways aspossible, said George Danforth, vice president of PULSE EFTAssociation, during the Texas CU Leagues TechMeccaConference Monday. Citing the emergence of Wal-Mart, check-casherslike ACE, and even Starbucks, in the deposit business via storedvalue cards, Danforth urged credit unions to maximize the use oftheir deposit relationships by helping members make payments asquickly and as easily as possible. Why a paymentsportal? he said. Because payments is what generatesfee income. You can charge people to start solvingtheir problems, he asserted. About 150 Texas credit unionexecutives mixed with a like number of Texas bankers during thefourth annual technology conference, jointly sponsored by the Texasleague, the Independent Bankers Association of Texas andPULSE.
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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.
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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