GREEN BAY, Wis. - (08/02/04) -- Pioneer CU said it has joined alocal Smart Transit Initiative which will allow it to offer morelenient mortgages to homeowners living near public transit lines.Under the local program, one of many developed by Fannie Mae aroundthe country, a homebuyer who buys a house within a quarter-mile ofthe bus route will be allowed to borrow more for a mortgage. Theidea is that borrowers who use public transportation save more oncommuting, providing them with more income to pay a mortgage. GreenBay Metro, a partner in the program, will provide two free monthlybus passes, then half-price passes for four months. Credit unionsin North Carolina, Georgia, Wisconsin and Michigan areparticipating in similar Smart Commute programs.
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The bank is launching KeyVAM, a virtual account management offering it designed with fintech Qolo. Both companies said the nature of the relationship was as important as the technology it produced.
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The top five bank holding companies have combined total credit card loan portfolios of more than $705 billion.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
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Ally Financial ended a six-month search for its next chief executive by hiring Discover CEO Michael Rhodes. The move adds a new wrinkle to Discover's pending sale, though Discover said that Rhodes hadn't been expected to have a long-term role at Capital One following the merger's completion.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 - Yahoo Finance Feed
The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
March 27