Sharon CU recalled about 140 MasterCard-branded debit cards last week after the card association notified it that accounts may have been compromised by a database hacking at an unidentified retailer. Mark Emerson, COO at the $275-million SCU, said they immediately recalled all of the cards and issued those members new ones. "There's no indication that any of the accounts have been compromised. There's been no incidents of fraud," Emerson told The Credit Union Journal. It is at least the fourth time over the past two years that member accounts at SCU have been potentially violated, including a recent hacking at a local shoe company that forced SCU to recall some debit cards.
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At a time of mild or nonexistent loan growth, middle-market borrowers in the Lone Star State are providing a boost to Fifth Third Bancorp and Huntington Bancshares.
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New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
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The Alabama regional lender says it expects expenses to taper off this year and anticipates challenged loans will gradually rise to historically average levels.
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Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
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The Dallas-based regional bank tapped a client for its co-pilot capabilities, where employees can message a bot instead of a human to get tech assistance.
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