TORONTO - (07/14/06) NCUA Chairman JoAnn Johnson hasbeen meeting this week with key lawmakers to discuss several agencyinitiatives, including a request to amend the Federal CU Act sothat all credit unions will be able to add underserved communitiesto their fields of membership. Johnsons effort comes as NCUAwas forced to restrict the underserved expansions program tomultiple group charters after the American Bankers Association suedto bar community and single-group charters from the underservedprogram. The NCUA Chairman told The Credit Union Journal duringNAFCUs annual convention that she has received a positivereception from members of Congress, including House FinancialServices Committee Chairman Michael Oxley, Rep. Barney Frank, theranking Democrat on the panel, and Sen. Daniel Akaka, as sheexplains the agencys efforts to increase creditunions capacity to provide services to the neediestAmericans.
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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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