ALBQUERQUE, N.M. - (03/02/05) -- The National CU Foundation said ithas provided a three-year $150,000 grant to fund a matched savingsprogram for low- and moderate-income residents of New Mexico. Theprogram will be administered by the CU Association of New Mexicoand the Northwest New Mexico Community Development Corp. Plans callfor the opening of more than 100 individual retirement accountsthrough at least four credit unions, with the recipients requiredto match the funding.
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The Puerto Rico-based company's board of directors has given an additional title to COO Javier Ferrer, naming him president as of May 9. His career path closely resembles that of his boss, CEO Ignacio Alvarez.
16m ago -
Truist Financial completes the sale of its remaining stake in Truist Insurance Holdings; City National Bank has hired Rick Bechtel as executive vice president and head of mortgage and residential lending; Associated Bank names Chun Schiros as its first chief analytics officer; and more in the weekly banking news roundup.
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Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
2h ago -
When the Trump tax cuts expire next year, the White House will ask for higher corporate taxes and a buyback tax as Congress enters one of its biggest economic fights of the decade, which will have major implications for bankers.
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Large banks, particularly those with over $100 billion in assets, see increasing supervisory shortcomings related to interest rate and liquidity risks, governance and risk control issues, and cite cybersecurity, CRE values, and remote work trends as potential hazards in the future.
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American Heritage Federal Credit Union in Philadelphia plans to acquire three branches and $105 million of deposits from Linkbancorp. The deal is part of a growing number of transactions involving credit unions buying whole banks or portions of their branch networks.
3h ago