PHOENIX - (12/08/05) -- Desert Schools FCU said it isselling members Visa holiday gift cards for the second year. Thegift cards were popular last year, the credit union selling morethan 13,000 cards between October and December. The $2.5 billioncredit union said it reduced the purchasing fees this year to $2.50if purchased in a branch, and to $3.50 if purchased online. Whenordered online the gift cards can be personalized with therecipient's name and a customized message.
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The Puerto Rico-based company's board of directors has given an additional title to COO Javier Ferrer, naming him president as of May 9. His career path closely resembles that of his boss, CEO Ignacio Alvarez.
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Truist Financial completes the sale of its remaining stake in Truist Insurance Holdings; City National Bank has hired Rick Bechtel as executive vice president and head of mortgage and residential lending; Associated Bank names Chun Schiros as its first chief analytics officer; and more in the weekly banking news roundup.
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Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
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When the Trump tax cuts expire next year, the White House will ask for higher corporate taxes and a buyback tax as Congress enters one of its biggest economic fights of the decade, which will have major implications for bankers.
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Large banks, particularly those with over $100 billion in assets, see increasing supervisory shortcomings related to interest rate and liquidity risks, governance and risk control issues, and cite cybersecurity, CRE values, and remote work trends as potential hazards in the future.
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American Heritage Federal Credit Union in Philadelphia plans to acquire three branches and $105 million of deposits from Linkbancorp. The deal is part of a growing number of transactions involving credit unions buying whole banks or portions of their branch networks.
3h ago