The Pennsylvania Credit Union Association has restructured its senior management team. Named to the executive team were Jim McCormack, president/CEO; Bob Hinchey, EVP-fee services; Rick Wargo, senior VP/general counsel; Mike Wishnow, Senior VP-communications & marketing (including overseeing the Pennsylvania CU Foundation); and Kati Shoop, VP-HR/corporate relations. The senior management team will include members of the Executive Management Team (listed above), along with David Dunn, VP-member business services; T. Fetsko, VP- administration/controller; Jan Hartman, VP-governmental affairs; John Kilduff, VP- Credit Union Services; Corinne Sherman, VP- Card Services; Jinny Cosgriff, Assistant VP- education & professional development; and Rick Myxter, Assistant VP-credit union planning & development. Other changes include: Peter Ranck, who was named director-information services; and Ron Celaschi, who was named senior planning consultant.
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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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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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