Federal authorities have notified a group of CUNA Mutual employees they will not sanction their effort to form their own separate bargaining unit within the company's main employees' union, the Office and Professional Employees Union, local 93. Jean Harrelson, a spokesperson for the breakaway group, said they have appealed the ruling to the National Labor Relations Board, putting the rare union separation bid in limbo. "What we really don't know is whether the NLRB will consider us professionals," Harrelson told The Credit Union Journal, of the group of Information Technology workers seeking separate status from the union's main bargaining unit. Harrelson said there is still interest in forming the separate unit but some of the interest has waned in the wake of recent CUNA Mutual lay-offs which have raised questions of the efficacy of the union. "I don't know if there's any value in it any more," she said (see related story, page 3).
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Judge Mark T. Pittman sided with the Consumer Financial Protection Bureau in ordering the case be moved from Texas to the District of Columbia due to "forum shopping."
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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.
March 28 -
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.
March 28 -
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.
March 28 -
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.
March 28 -
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.
March 28