LONG ISLAND CITY, N.Y. – United Nations FCU put its own imprint on this city’s skyline this week with the opening of its new 17-story headquarters, the tallest office tower to open in this suburb of Manhattan in 17 years. The $2.5 billion credit union will occupy the first seven floors of the $65 million building, the tallest opened in the neighborhood since Citigroup built its 50-story structure in 1989. UN FCU celebrated the opening with a $15,000 contribution to one of its neighbors, The Floating Hospital, which opened in 1866 to travel the five boroughs by waterway and recently opened its first land-based clinic nearby.
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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