ST. PETERSBURG, Fla. - (12/06/05) -- PSCU Financial Services said Mondayit will pay a $3.3 million patronage dividend. Member credit unionswill receive the payout three months ahead of the scheduledpayment. PSCU said its transactions increased by 9% for the firstnine months of the year, compared to the same period last year. TheCUSO now processes more than nine million credit and debitaccounts. PSCU has paid out a total of $45 million in dividends tomember/owner credit unions since 1994.
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Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
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Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
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Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
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Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
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CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.
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Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.
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