PHILADELPHIA - (07/12/06)Philadelphia Federal Credit Unionhas donated $10,000 to the Boomsburg Flood Recovery Fund afterPresident Bush declared the city, along with the rest of ColumbiaCounty, a national disaster area following severe flooding. PFCUhas a branch in Bloomsburg. We were devastated to hear aboutall of this, said PFCU CEO James McAneney.Theres been millions of dollars in flood damage andwe just want to help however we can. Weve been a part of theBloomsburg Community for almost twenty years now.
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Threat group ShinyHunters claimed responsibility for the attack, which reportedly targeted third-party platforms rather than Betterment's own systems.
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Artificial intelligence developments are stoking investor fears about software companies. Banks' limited exposure to the sector and general stability is proving attractive to investors.
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Prosperity Bancshares finalizes the second of three acquisitions it's announced since July; Sumitomo Mitsui Banking Corporation appoints a new chief information security officer for its American operations; Huntington Bancshares, Third Coast Bancshares and Heritage Financial completed acquisitions; and more in this week's banking news roundup.
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Fintech and crypto groups said in comment letters to the Federal Reserve that the proposed "skinny" master account is too limited and could keep firms dependent on banks. Banking groups asked for more time to comment.
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Federal Reserve Vice Chair Philip Jefferson said in a speech Friday that long-term productivity gains brought on by artificial intelligence could compel the central bank to maintain higher rates to keep prices stable.
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While the e-commerce giant has deemphasized the technology, banks and payment firms are testing the biometric option.
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