SOUTHFIELD, Mich. - (09/14/04) -- Peoples Trust CU announced tenrecipients of its annual college scholarship program. The creditunion awarded a total $8,500 in scholarships, including a $2,000award for the winner of its Rose Hubbard Memorial Scholarship. Thecredit union has awarded a total of $91,000 in scholarships toeligible members over the past 14 years.
Federal Reserve Governor Michael Barr said strong oversight mechanisms and consumer protections are needed for stablecoins to make them a more viable payment instrument.
Noninterest income at the Minneapolis-based company jumped more than 10% while asset quality improved and expenses held steady.
The bank technology company has released Smart Basket, which uses emerging artificial intelligence to improve transaction routing, a strategy that's quickly becoming table stakes for fintechs and financial institutions that offer payments.
The Canadian bank plans to sell the branches, which are mostly in the Midwest and Great Plains, to First Citizens Bank in North Carolina. At the same time, it plans to build 150 branches over the next five years in markets with longer-term growth prospects.
Bank of New York Mellon recorded another quarter of higher-than-expected revenue and earnings. Revenue for the third quarter rose 9% year over year, while earnings per share beat Wall Street's forecast by 12 cents.
During cybersecurity awareness month (October), financial institutions have ramped up education on phishing, fraud and cyber hygiene. Here's what they're saying.
