LAS VEGAS - (06/26/06) The demand for student loans isgrowing as college costs soar and federal assistance fails to keepup. According to a trio of speakers at CUNA Mutual GroupsDiscovery conference here Thursday, credit unions can use studentloans not only as a way of building membership and loan growth, butalso to reach the critical Gen Y segment of youngpeople. Mike Long, vice president of lending for UW CU in Madison,Wis., said his credit unions average membership age is 36,thanks to a host of student- and Gen Y-oriented products, includingalternative student loans, a student Visa card, and a no down, noPMI mortgage. Gary Perez, CEO of USC CU in Los Angeles, said creditunions are dream makers, but we havent done much forthe 18-to-24 segment. Mark Meyer, director of innovation forthe Filene Research Institute and founder of i3, said serving Gen Yis not going to be the answer for all problems in the movement, butit is a key. To reach Gen Y, we need creativity andcommitment.
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Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
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The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
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The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
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Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
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The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
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