TUKWILA, Wash. - (05/13/05) -- One act of kindness set apricetag--of $5,000--on the credit union credo 'people helpingpeople,' when a 69-year Boeing Employees CU member absent-mindedlyleft an unmarked envelope containing that amount of cash at thecredit union's ATM. Donna Pincombe was at the credit union Mondaycashing a check for her son-in-law when she put the $5,000 into theenvelope, then walked outside to the ATM to get some cash forherself. It wasn't until after she drove home that she realized shehad left the envelope with the cash behind. Luckily, another creditunion member turned the envelope in and all of the money waswaiting for Pincombe when she called the credit union for help. ForBonnie Stewart, who found the unmarked envelope, there was neverany question about what to do with the found money. "When I foundit, I thought, 'there's someone really worried right now,' I knewhow I would feel if it happened to me," she said.
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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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