HOPKINSVILLE, Ky. - (09/10/04) -- Fort Campbell FCU announced Thursdayit will extend its Home Front Mortgage program, which providesmortgage assistance to active military personnel stationed at FortCampbell, for another year, until June 2005, in order to givesoldiers returning from Iraq a chance to participate. The programallows soldiers at Fort Campbell to buy homes in Kentucky orTennessee with no down payment and allows for greater underwritingflexibility. Under the program, introduced in May the credit unionis originating the loans and Fannie Mae has committed to buying $5million worth of the mortgages.
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Execs say other banks are still more of a rival for deposits than the digital currency.
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First Northwest Bancorp in Port Angeles has selected an Everett, Washington-based competitor's president to serve as its new top executive.
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The Charlotte-based megabank announced that it had appointed two business leaders to be co-presidents of the bank, and elevated its chief financial officer to serve as executive vice president.
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The Massachusetts bank is being accused of aiding and abetting the operation of a Ponzi scheme centered in Hamilton, New York. The bank declined to comment on the allegations.
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City National Bank promotes Brandon Williams to head private banking and wealth management; a former U.S. Postal Service letter carrier is sentenced to five and a half years for stealing over $10 million in checks from the mail; Lazard expands its North American investment banking franchise with two managing director hires; and more in this week's banking news roundup.
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The government-powered network is allowing larger payments to settle instantly, a move The Clearing House has also made for its RTP network. Payment experts say more than higher limits are needed to make speedy processing ubiquitous.
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