SACRAMENTO, Calif. - (07/29/04) -- Schools Financial CU is alerting afourth of its 112,000 members that their Social Security Numbersand account information have been compromised following the theftof a computer server from PSB, The Marketing SuperSource, whichdoes marketing for the credit union and as many as 20 other creditunions. The burglary affected the credit unions bestcustomers, to which PSB was supposed to mail them special creditoffers, such as for car loans of up to $35,000 and credit cardswith limits up to $10,000. On Monday, Schools mailed letters to theaffected customers revealing the problem and what help isavailable. The credit union, through Experian credit rating agency,is providing the customers a one-year membership in a service thatallows daily monitoring of credit reports and that e-mailsnotifications within 24 hours of any unusual activity.
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Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
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The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
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Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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