COLUMBUS, Ohio - (06/26/06) Corporate One FCU is expectedto announced Monday it is teaming with CU*Answers to form a CUSOthat will provide depository services using Corporate OnesCheck 21 solution for credit unions. The CUSO will provideCU*Answers 107 credit union customers with access toCorporate Ones electronic check exchange services, providinggreater negotiating power with the imaging networks to help lowercosts. The main goal is to vest credit unions in the Check 21business, instead of leaving them at the mercy of thebank-controlled image exchange networks. Corporate One is one ofthe nations biggest corporates and manages $4.1 billion inassets for 800 credit unions in Ohio, Kentucky and West Virginia.CU*Answers is best known for its CU@Home Internet banking programand serves credit unions ion 13 states.
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Truist Financial completes the sale of its remaining stake in Truist Insurance Holdings; City National Bank has hired Rick Bechtel as executive vice president and head of mortgage and residential lending; Associated Bank names Chun Schiros as its first chief analytics officer; and more in the weekly banking news roundup.
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Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
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When the Trump tax cuts expire next year, the White House will ask for higher corporate taxes and a buyback tax as Congress enters one of its biggest economic fights of the decade, which will have major implications for bankers.
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Large banks, particularly those with over $100 billion in assets, see increasing supervisory shortcomings related to interest rate and liquidity risks, governance and risk control issues, and cite cybersecurity, CRE values, and remote work trends as potential hazards in the future.
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American Heritage Federal Credit Union in Philadelphia plans to acquire three branches and $105 million of deposits from Linkbancorp. The deal is part of a growing number of transactions involving credit unions buying whole banks or portions of their branch networks.
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In this week's edition of the American Banker news quiz, gauge your understanding of topics like Trump's ongoing criminal trial, alleged misconduct within the Federal Deposit Insurance Corp., industry succession planning and more.
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