MADISON, Wis. - (09/06/05) -- The National CU Foundation Collecteda quick $500,000 in pledges from the credit union community lastweek with two days of opening a disaster relief fund for victims ofHurricane Katrina. Among the immediate donors were CUNA MutualGroup ($150,000); CU Executives Society ($100,000); and The CO-OPNetwork ($50,000). Steve Delfin, chief executive of the creditunion charity, said the initiative will expand in the coming daysto include, among other things, the ability of credit unions andindividuals to make contributions online. The use of the funds isstill undetermined as the extend of the tragedy continues tounfold. "We expect the bulk of the money to be spent on helpingcredit unions and their employees get back on their feet, and tohelp their members get back on feet," Delfin told The Credit UnionJournal.
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Judge Mark T. Pittman sided with the Consumer Financial Protection Bureau in ordering the case be moved from Texas to the District of Columbia due to "forum shopping."
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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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