In the third annual 9/11 tribute by Maine's credit unions, checks for $911 were presented to each of the seven Red Cross chapters in the state by the Maine league. The funds are to go to Emergency Food Relief Fund of each chapter. Since 2001, through the Maine Credit Unions' Campaign for Ending Hunger, Maine's credit unions have contributed more than $15,000 to the Emergency Food Relief Funds. "Many chapters continue to say that the need for emergency assistance is up in many communities in Maine but fundraising continues to lag," said league spokesperson Jon Paradise. "We think this was an appropriate way to mark 9/11 on an annual basis, while making a difference in the year ahead here in Maine."
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The bank is launching KeyVAM, a virtual account management offering it designed with fintech Qolo. Both companies said the nature of the relationship was as important as the technology it produced.
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The top five bank holding companies have combined total credit card loan portfolios of more than $705 billion.
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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.
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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.
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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