ALEXANDRIA, Va. - (04/05/06) -- NCUA said Tuesday it shuttered St.John Baptist FCU, a tiny faith-based credit union servingparishioners at St. John Baptist Church in Scotch Plains, N.J. Itwas the second faith-based credit union shut down by NCUA over thepast few days, following Friday's liquidation of St. CharlesBorromeo Church FCU, in New York City. The assets of 47-year-oldSt. John Baptist FCU, just $68,000, and about 180 member accounts,were transferred to United Financial Services FCU, in ScotchPlains.
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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.
March 28