RICHMOND, Va. - (11/23/04) -- State regulators said they haveapproved a conversion of Tidewater Telephone Employees CU to whatamounts to the broadest community field of membership ever granteda state chartered credit union in Virginia. The ruling by theVirginia Bureau of Financial Institutions will allow the $35million Virginia Beach-based credit union to serve more than 1.1million residents in the Virginia Beach area, including the citiesof Norfolk, Portsmouth, Chesapeake, Suffolk, Newport News, andHampton. It is believed to be the first state chartered FOM to topthe one million mark.
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The top five bank holding companies have combined total credit card loan portfolios of more than $705 billion.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
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Ally Financial ended a six-month search for its next chief executive by hiring Discover CEO Michael Rhodes. The move adds a new wrinkle to Discover's pending sale, though Discover said that Rhodes hadn't been expected to have a long-term role at Capital One following the merger's completion.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 - Yahoo Finance Feed
The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
March 27 -
A panel at CBA Live explored the contract provisions banks need to consider before embarking on new banking-as-a-service relationships and what catches their eyes in consent orders from banking regulators.
March 27