SAN FRANCISCO - (04/12/06) - The Federal Home Loan Bank of SanFrancisco said it awarded its member institutions $8.2 million,more than $500,000 of it to credit unions, to help them financemortgages for low-income first-time homebuyers. The FHLB awarded$4.1 million to help finance downpayments for participants in theIndividual Development Empowerment Account Program, and $4.1million for the Workforce Initiative Subsidy for HomeownershipProgram. Under both programs, the bank's matching grants may beused for downpayment and/or closing costs. The credit unionrecipients are: Arizona FCU, Meriwest CU, University & StateEmployees CU, Santa Cruz Community CU, AEA FCU, Arrowhead CentralCU and Travis CU.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
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The Federal Reserve has banned a Wyoming bank employee from the banking industry for embezzling more than $30,000 from a charity.
July 3