ST. PETERSBURG, Fla. - (03/18/05) -- PSCU Financial Services saidThursday it will pay its member credit unions patronage dividendsof $21.6 million, one of the biggest credit union payouts ever. Thedividends will go more than 500 PSCU member credit unionsnationwide. This is the tenth consecutive year that the company hasissued dividends, bringing the total dividends declared to $108million since the company became a cooperative in 1994.
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Michael Barr said he believes artificial intelligence will have a positive long-term impact on the economy, though it may cause job losses in the short term.
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The Federal Reserve Board finalized changes to its supervisory rating framework, allowing large bank holding companies to be considered "well managed," even with one deficient rating.
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As the emerging form of artificial intelligence impacts payments, pace of payment disputes and the workload will change.
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The chairman and CEO of First Independence Bank in Detroit is the new chairman of the American Bankers Association. He said his extensive involvement in industry advocacy roles over the past eight years has made him a better leader.
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The Consumer Financial Protection Bureau is considering a proposal to reduce its oversight of auto finance lenders, saying the benefits of supervision may not justify the "increased compliance burdens."
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A regulatory filing Wednesday sheds more light on how the megamerger came together. It also details the compensation arrangements for Comerica CEO Curtis Farmer, who will become Fifth Third's vice chair.
November 5





