ALEXANDRIA, Va. - (03/14/05) -- NCUA said a federal credit union maygive members immediate, 'provisional' credit for deposits a memberhas promised to make within a certain time frame, such as anelectronic deposit, but which the credit union has not yetreceived. In a new legal opinion letter, NCUA said the credit unionproposes to permit members meeting certain criteria withprovisional credit up to $1,500. The funds would immediately startearning dividends (interest) and be available for withdrawal. Themember must present the funds within 10 days and is responsible forreimbursing the credit union if the funds are not deposited. Thecredit union would not charge interest or impose a fee for theprovisional credit.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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