ALBANY, N.Y. - (04/12/06) - IA Systems said Tuesday that fivemore of its credit union clients have migrated to its new loanprocessing system, called StreamLend Velocity, from their currentIA Systems StreamLend product. Those credit unions are: EducatorsCU, Racine, Wis., Metropolitan CU, Chelsea, Mass., FinancialPartners CU, Downey, Calif., First Technology CU, Beaverton, Ore.,and Bay FCU, Capitola, Calif. StreamLend Velocity is acustomizable, paperless, web-based loan origination system designedto automate and streamline the lending process for consumer, homeequity and indirect loans.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
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St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
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The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.
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