WILBRAHAM, Mass. - (06/06/06) -- Financial Service CentersCooperative continues to expand its shared branching network acrossthe nation and announced Monday deals to add ValleyStone CU in thiswestern Massachusetts town, as well as UMass Five College FCU, innearby Hadley, Mass., as outposts. Both credit unions, the first inwestern Massachusetts to join the system, will officially becomepart of the network this fall. FSC is the nation's largest sharedbranching network with connections to more than 2,200 credit unionbranches in the U.S., Italy, Japan, Puerto Rico, Germany andKorea.
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The Treasury Department terminated the lease for the Consumer Financial Protection Bureau's Washington, D.C., headquarters; HSBC's Gerry Keefe, head of banking in Europe and the Americas, quit to take a role outside of the financial services industry; Deutsche Bank has reported potential sanctions breaches involving Russian clients to German financial regulator Bundesbank; and more in this week's banking news roundup.
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Federal Reserve Gov. Christopher Waller said Friday that the length of time the Strait of Hormuz remains blocked will be a key factor in the longer-term inflation outlook — and, by extension, the Federal Reserve's monetary policy path.
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Nationwide, Americans are falling behind on their car loans. But among Ally Financial's customers, delinquencies fell during the first quarter.
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The international messaging network is attempting to standardize consumers' cross-border payment experience as other payment rails such as Visa Direct, Mastercard Send and stablecoins pressure the correspondent banking system.
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The Birmingham, Alabama-based company also benefited from improved credit quality, with declines in nonperforming assets and criticized loans paving the way for a reduced provision
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CEO Tim Spence said folding in the acquired bank has gone to plan so far, but the biggest point of risk is still on the horizon.
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