RESTON, Va. - (12/16/04) -- Student loan giant SLM Corp., betterknown as Sallie Mae, said Tuesday it has completed the acquisitionof Seattle-based Student Loan Finance Association and its $1.7billion portfolio of student loans made in Washington, Oregon andIdaho. SLFA will become a Sallie Mae subsidiary and retain its ownbrand. Separately, Sallie Mae said it signed with NorthwestEducation Loan Association, a regional guarantor, to provide avariety of services for NELA, including the marketing of the NELAguarantee to colleges and universities in the Northwest. Sallie Maeis the nation's largest student loan provider and servicer and hasa portfolio of $98 billion of student loans.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
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