The $4.6-billion Boeing Employees Credit Union (BECU) has donated more than $52,000 to the largest children's hospital in the Northwest as the result of an "eStatement" campaign. eStatements are free, electronic monthly account statements that BECU members can access online, in lieu of paper statements sent by mail. BECU donated $3 to Children's Hospital in Seattle for every member who signed up for eStatements from March through June. Members opened nearly 18,000 eStatement accounts during the campaign. The donation was made through BECU's association with Children's Miracle Network.
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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