CommonWealth One FCU here is rolling out a marketing campaign it won't be able to reuse for another 17 years. The credit union is leveraging the return of the 17-year cicadas, which are swarming in the Midwest and mid-Atlantic states. "Flying blindly through your finances?" asks one ad. "Trust your financial partner. CommonWealth One." Another ad asks, "Do you have your next 17 years planned?" and urges members to look to CommonWealth One for financial planning. The advertising has been appearing on the CU's website. The $225-million CWOFCU serves approximately 39,000 members.
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The bank is launching KeyVAM, a virtual account management offering it designed with fintech Qolo. Both companies said the nature of the relationship was as important as the technology it produced.
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The top five bank holding companies have combined total credit card loan portfolios of more than $705 billion.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
March 27 -
Ally Financial ended a six-month search for its next chief executive by hiring Discover CEO Michael Rhodes. The move adds a new wrinkle to Discover's pending sale, though Discover said that Rhodes hadn't been expected to have a long-term role at Capital One following the merger's completion.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 - Yahoo Finance Feed
The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
March 27