CUNA Mutual Group presented its 2004 Excellence In Lending Awards at the CUNA Lending Council annual meeting. Mortgage lending winners were Westerly Community CU, Westerly, R.I., less than $250 million in assets and Redwood CU, Santa Rosa, Calif., more than $250 million in assets. Consumer lending winners were Midwest United CU, Blue Springs, Mo., less than $250 million in assets and Mission FCU, San Diego, more than $250 million in assets. Pictured are: front row from left, Judy Tharp, CUNA Mutual Group, judge; Sherry Carr, and Anna Mendez of Mission FCU; Jeanne Abate, Westerly Community CU; and Douglas Dunbar, Redwood CU. Back row, from left, Pat Oakley, Midwest United CU; Jeff Chrisman, Midwest United CU; Linda Winkfein, Texas CU League, judge; Joseph Brancucci, BECU, judge; and Michael Conway, Redwood CU.
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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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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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