FARMINGTON, Utah - (07/13/05) -- Credit Union Data Processing, a CUSOthat provides core processing systems and services to creditunions, said it has implemented new advanced back-up encryptionsoftware from BakBone of San Diego. BakBone's NetVault EncryptionApplication Plug-In Module allows customers to simply addeasy-to-use encryption functionality to their existing back-up andrecover operations as a first line of defense in securing criticaldata. The encryption software plug-in does not require additionalhardware and integrates seamlessly into different networked storagesystems, reducing the costs and complexity associated withtraditional data security appliances.
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The company is leveraging its bank charter and strong customer acquisition, with app logins up nearly 50% from borrowers.
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The Dallas-based regional bank's return on average assets exceeded its goal of 1.1% for the first time, coming in at 1.3% for the third quarter. The bank has been in transformation mode since 2021.
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U.S. regulators have reached a rock-bottom settlement deal with a former Wells executive accused of wrongdoing in the phony-accounts scandal. The OCC had sought to recover $10 million from Claudia Russ Anderson, a onetime risk executive at the bank.
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Fraser will succeed John Dugan, who's been Citi's chair for six years. The megabank also granted Fraser a one-time award of $25 million in restricted stock units, and more than 1 million stock options.
October 22 -
Farmers National Banc Corp. in Ohio plans to acquire in-state rival Middlefield Banc Corp. in a deal that will deepen the buyer's footprint in Columbus.
October 22 -
An apparent increase in large-scale borrower fraud and the hot environment for bank mergers were the key themes as banks discussed their third-quarter results.
October 22