SAN JOSE, Calif. - (04/14/05) -- Technology CU said it has become oneof the first financial institutions allow members to instantlyimport their 1099 (dividend interest) and 1098 (mortgage interest)directly into Internet-based TurboTax program without the need ofmanual input. The $1 billion credit union is one of only twofinancial institutions to provide 1098 downloads of both firstmortgage interest and home equity loan interest. To use thisfeature, members simply click on the TurboTax logo located on thecredit union's newly designed website. When the member arrives atthe section in the TurboTax system, which requires dividendinterest and/or mortgage interest information, they enter theirTech CU member number and Online Banking personal identificationnumber.
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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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