FLINT, Mich. - (2/06/06) There was good news last week inthis struggling auto-manufacturing community when 12 lucky membersof the United Auto Workers union hit their numbers in the lottery.The lucky 12, all members of Security FCU, shared in the $250,000Mega Millions prize when five of their six numbers came in. Theymissed the multi-million dollar grand prize in the Jan. 27 drawingby just the one digit. The lucky auto workers were seen cashingtheir checks at the local branch of the credit union last week. Thegroup had played the lottery together for the past five years,putting in $5 each a week to buy 60 tickets. The winners are 10workers and two retirees from the General Motors Powertrain FlintNorth plant, which has experienced several rounds of lay-offs. Eachof the lucky dozen credit union members will get $15,000 aftertaxes.
-
The top five bank holding companies have combined total credit card loan portfolios of more than $705 billion.
2h ago -
Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
10h ago -
Ally Financial ended a six-month search for its next chief executive by hiring Discover CEO Michael Rhodes. The move adds a new wrinkle to Discover's pending sale, though Discover said that Rhodes hadn't been expected to have a long-term role at Capital One following the merger's completion.
March 27 -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 - Yahoo Finance Feed
The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
March 27 -
A panel at CBA Live explored the contract provisions banks need to consider before embarking on new banking-as-a-service relationships and what catches their eyes in consent orders from banking regulators.
March 27