DALLAS - (12/13/05)Four more credit unions haveselected TNB Card Services as their credit card processor. Three ofthe credit unions moved their business from other processors, whileone of them launched a credit card program for the first time, thecredit union-owned company said. None of the credit unions has soldtheir portfolios to TNB. For info: The new processing clients areUnited SA FCI of San Antonio, Texas; Woodlawn Auto Workers FCU ofBlasdell, N.Y.; PCM Employees CU of Green Bay, Wis., and MoogEmployees FCU of East Aurora, N.Y. In the case of United SA, itwill be rolling out its Platinum card program with a 1% cash-backrebate.
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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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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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