WASHINGTON - (09/28/04) -- Federal Reserve Governor EdwardGramlich called on credit unions to partner with the NeighborhoodReinvestment Corp., a non-profit group he chairs that helps providehousing assistance across the country. Gramlich told attendees toNAFCU's Congressional Caucus that credit union have partnered withthe Washington-based group in more than two dozen locals to helpbuild homeownership among low- and moderate-income people and innercities. Partnerships between credit unions and the NRC haveblossomed over the past two years since the involvement with thegroup of NCUA Board member Deborah Matz, now an NRC director. Lastyear, Matz helped broker a project under which New Hampshire'scredit unions will provide $35 million in affordable housingassistance through an NRC affiliate, known asNeighborworks.
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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