LONGVIEW, Wash. – Weyerhaeuser Employees’ CU said yesterday it is changing its name on January 1 to Red Canoe CU. Like several credit unions lately, the $400 million credit union was asked last year by its original corporate sponsor, Weyerhaeuser Corp., to change its name to reflect its separate corporate identity. Other credit unions that have been forced to shed their corporate sponsors’ names recently include those sponsored by John Deere, The Los Angeles Times and Northwest Airlines. Weber Marketing Group developed the new name and brand for Weyerhaeuser Employees’ CU. The firm considered more than 300 names, reviewing each for brandability, marketing potential and phonetic appeal.
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Some last-minute drama has derailed planned votes on crypto and stablecoin in the House, but the political maneuvering isn't likely to improve the long list of criticisms that bankers have raised about the legislation before it heads to President Donald Trump's desk.
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The global bank reported solid second-quarter results as executives maintain confidence in the bank's ability to achieve a return on tangible common equity of 10-11% next year. But an analyst said Citi's progress on reducing expenses will hinge on its ability to get freed from various enforcement actions.
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The U.K. challenger bank would follow London fintech Wise in emphasizing New York over London in an effort to boost valuation and establish a foothold in the U.S. Plus, Lloyds is in talks to buy all-in-one card fintech Curve; and more news in the global payments and fintech roundup.
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Luke Pettit, a Senate Banking Committee staffer, will serve as the Treasury Department's next assistant secretary of financial institutions.
July 15 -
The Minneapolis-based bank worked with WaveBL and ICICI Bank to handle an export shipment with fully digital documents via blockchain technology.
July 15 -
The Federal Reserve governor said the uptick in buy now pay later repayment issues is likely a sign that consumers don't understand the terms of the emerging credit offering.
July 15