MADISON, Wis. - (04/07/06) -- CUNA Mutual Group said it isinitiating a pilot program that will help it develop a new breed ofcustomer service center. The customer operations pilot will helpCUNA Mutual experiment, test, and learn new customer servicetechnologies, processes, work methods, and organizational designs,said the company, which provides services or products for almostevery one of the nation's 9,000 credit unions. The goal of thepilot is to make it easier for credit unions to connect with CUNAMutual and for employees to provide the level of customer servicecredit unions are demanding. The pilot is part of an initiativelaunched in December aimed at improving and aligning claims, callscenters and product administration. The company plans to have thepilot operational by year-end 2006.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
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St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
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The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.
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