ALEXANDRIA, Va. - (03/08/06) NCUA said Tuesday the WhiteHouse has cleared the agencys service to the underserveddata collection program and its examiners will begin work on theprogram in the next few weeks. But the White House budget officelimited the program to just six months, until Aug. 31. NCUA hadplanned to begin examining 481 credit unions to measure theirservice to the underserved by the end of last month but the WhiteHouse ordered a halt to the program until NCUA issued the proposalfor public comment, as required by the Administrative ProceduresAct. To comply with the law NCUA issued the proposal for a brieffive-day comment period, including the weekend.
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Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
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The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
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Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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