KENSINGTON, Md. - (06/15/06) Lafayette FCU became the latestcredit union to seek conversion to a mutual savings bank Wednesday,according to the Office of Thrift Supervision. The $340 millioncredit union would be the first attempted conversion since the bidby DFCU Financial, since withdrawn after a member revolt. LafayetteFCU has a broad field of membership that serves most of Washington,D.C., the nearby community of Potomac, Md., and more than 150select employee groups. Richard Garabedian, an attorney with theWashington firm of Luse Gorman Pomerenk & Schick, PC, isrepresenting Lafayette in the conversion.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3