TULSA, Okla. – Credit union representatives from around the state met here last week to break ground on the state’s own Credit Union House. The project, within view of the state Capitol, will serve as the headquarters for the Oklahoma CU League and as a meeting place and training facilities for credit unions, state legislators and community groups, similar to the Credit Union House built by the state leagues in Washington, D.C. Twenty-five Oklahoma credit unions bought shares in the project. Construction is scheduled to begin this spring. Several other states, including Missouri, have either built or are considering building their own CU House, which has significantly raised both the profile and campaign financing capability for CUNA, which offers it as a fundraiser venue.
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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.
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