BOSTON - (07/30/04) CUNA cinched the victory in theBattle of the Credit Union Bands at this weeksDemocratic National Convention with a party Thursday night for theKerry and Edwards ticket featuring the Belevue Cadillac. The weekhad started off slowly, with NAFCU pulling ahead on the strength ofits Monday night reception featuring classic rock band Little Feat.Later the same night CUNA pulled into a virtual tie with areception featuring the 90s band, the Goo Goo Dolls. Butthen CUNA pulled far ahead with its gala reception Wednesday nightat Bostons Museum of Fine Arts featuring an 11-piece jazzband, a five-piece rock band, then country and western star MartinaMcBride, followed by jazz diva Natalie Merchant. For good measure,CUNA and its co-hosts threw in comedian Kevin Nealon of SaturdayNight Live, who served a master of ceremonies. In between,convention-goers were treated at different stages to performancesby the cellist Yo Yo Ma, the Boston Pops, and rockers JohnMellencamp, U2 and James Taylor.
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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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