ROCHESTER, N.Y. - (10/14/04) -- Six area credit unions have joined acity-sponsored Urban Homestead Program to help rehabilitate innercity homes for sale to low-income residents. The six credit unions,several of which are providing volunteers to help renovate thedilapidated houses, have agreed to provide the permanent financingfor the projects, Ron Ehrenreich, manager of Syracuse CooperativeFCU, one of the participating credit unions. "We're putting thecommunity's assets to work," Ehrenreich said during Monday's PALSconference here, organized by NCUA Board member Deborah Matz. Thecredit union have agreed to make low downpayment mortgages, as lowas $500, available for the inner city homes, which can be sold foras little as $25,000 in this depressed northern New York city. Thegroup has completed its first rehab and is prepared to finish thesecond home, with 11 more projects in the works. Otherparticipating credit unions are: Empire FCU, Power FCU, ACMG FCU,ESM-NS FCU, MONY FCU.
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The effort to establish rules governing consumers' access to their financial data has been effectively derailed by litigation, moves made by the Trump-era CFPB and JPMorganChase's decision to start charging data aggregators for access to customer data.
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Strong loan and deposit growth led to a double-digit increase in revenues and an even bigger jump in profits at the Columbus, Ohio-based regional bank.
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Flagstar shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more in this week's banking news roundup.
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In a tough quarter for the auto industry, the Detroit-based lender posted earnings that sped past Wall Street's expectations.
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Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.
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Regional banks say their asset quality is solid amid skittish investors. The KBW Nasdaq Regional Banking Index was largely stable Friday after falling by as much as 7% the day before.
October 17